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Bitcoin price has made little progress during the past week and the market is falling away from $600 (Bitstamp). The depth of the downward correction is uncertain and we look for potential support levels.
Bitcoin Price Analysis
Time of analysis: 14h30 UTC
Bitstamp 1-Hour Candle Chart
From the analysis pages of xbt.social, earlier today:
The 1-hour 200MA (red) comes back into focus as price falls away from $600 and below a trendline (grey) that has supported advance until last night.
The trendline draws similarly in most of the USD exchange charts but had been breached on Sunday in the CNY charts. However, the position of price below this trendline is not yet a