Bitcoin price has dropped below $400 after falling away from yesterday’s consolidation zone and declining strongly all day.
Bitcoin Price Analysis
Time of analysis: 13h00 UTC
Bitstamp 4-Hour Chart
From the analysis pages of xbt.social, earlier today:
Price has been declining consistently all day and punched below $400 (Bitstamp) at 13h00 UTC.
Despite momentum indicators showing price to be oversold at all timeframes we reference (1-day, 4-hour, 1-hour and 15-minute) the decline has continued. The 1-day and 4-hour RSI is reverse diverged to the downside and this implies that price will return to the upside at some point. When, or from what level is unknown, because if there is one thing the market will teach a trader during strong decline it is to never try to catch a falling knife.
A likely level for any kind of corrective