Bitcoin Price Bounce Approaches $600

Bitcoin Price Bounce Approaches $600

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Bitcoin price is gradually approaching $600 (Bitstamp) as the chart’s momentum indicators show ongoing compensation for last week’s strong sell-off. Could advance continue immediately? Possibly, but with a few obstacles to consider.

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Bitcoin Price Analysis

Time of analysis: 13h00 UTC Sunday

Bitstamp 1-Day Candle Chart


From the analysis pages of, earlier today:

Since the low struck at $465 (Bitstamp), last week, price has steadily advanced higher in the chart.

At the time of writing price has pushed to its 200-period moving average near $594 in the 1-hour chart (not shown). However, the 1-hour stochastics have begun falling away from their maximum and 1-hour RSI is diverging from the new high. This advancing wave may still tag $600 in the coming hours but indicators in the 1-day chart have not yet aligned sufficiently to give strong confidence of ongoing advance.

Following an alleged “hack theft” of approximately 120k BTC last week, the nefarious

Read more ... source: TheBitcoinNews

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