Bitcoin Price Advance Halts At $450

Bitcoin Price Advance Halts At $450

Bitcoin price achieved $450 (Bitstamp) and 2900 CNY (BTCC) overnight. Since then price has entered a pullback that appears incomplete at the time of writing.

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Bitcoin Price Analysis

Time of analysis: 14h00 UTC

Bitstamp 4-Hour Chart


From the analysis pages of, earlier today:

A strange advance that is not yet surging above the long-term resistance it has just broken (grey trendline). The expectation was that the slow push higher would turn parabolic on the successful push through resistance at $430 (Bitstamp).

In the 4-hour timeframe, RSI is reverse diverging to the December high and the advance must now push through a supply level that has been in effect since November of last year.

Although the slow advance since March strongly resembles the gradual advance we see at the bottom left of the chart, there is

Read more ... source: TheBitcoinNews

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