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.
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 CNY support level.
A critical moment has arrived in the market, as Bitcoin price retests the envelope line that has contained advance.
Yesterday saw a highly significant development when price advanced above the 1-day 200MA. The 1-day 20MA (green) is pushing up behind price and may cross above the 200MA in the coming days. This MA