Bitcoin Price Advancing Strongly on Greek Defiance

Bitcoin price has reacted to the upside from the $240 level it has been trying all week. Our outlook was for decline once this level was breached, but today, following a surprise announcement by Greece that it will seek to exit the European Union defiantly and willfully default on its debts, Bitcoin started to advance.

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Bitcoin Price Analysis

Time of analysis: 16h59 UTC

Bitstamp 1-Hour Chart

Bitstamp 1-Hour Chart

From the analysis pages of, earlier today:

Price has been rejected by attempts to breach $240 and progresses above the 1-hour 200MA. This is a strong sign that additional downside is unlikely to show in the chart. Either the wave must turn down soon and get below the 200MA (red) or this wave may use the available chart space to $258 before

Read more ... source: CryptoCoinsNews