Bitcoin Price Slipping From $600, Downside Risk
Bitcoin price looks to be slipping from $600 and 4,000 CNY in some exchanges exchanges. Failure to hold this critical level opens the possibility of another corrective wave of decline. Price is grappling with support and resistance at $600 and 4,000 CNY across exchanges. In the 4hr chart we see that price had recently used the 200MA (red) as support. Yet, RSI had advanced too far too soon and formed reverse divergence to an RSI peak from 2 weeks ago (magenta). Price is, hence, forced into correction. The pale magenta trendlines above and below price imply a consolidation range that should....
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Bitcoin’s price is sitting well below its record highs and some miners are selling more coins than usual. But should investors be concerned?
Bitcoin price appears to be slipping from yesterday's high as the market starts taking profit. If trade can hold price above $260 and 1620 CNY for only a few more days, a bullish cross-over in the daily chart will shift the bias in favor of the bulls. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 05h15 UTC. Bitstamp 1-Hour Chart. From the analysis pages of xbt.social, earlier today: Price has returned to test the critical $261 / 1620....