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Bitcoin price is being rejected by the prevailing $680 support and resistance level. The outlook remains that a consolidation is underway – prior to lift-off, but we keep a weary bearish eye on critical support just below price.
Bitcoin Price Analysis
Time of analysis: 13h30 UTC
Bitstamp 1-Hour Candle Chart
From the analysis pages of xbt.social, earlier today:
Bitcoin price is again falling away from the $680 (Bitstamp) resistance level (horizontal, dark blue) after failing to advance above it since yesterday’s higher low.
The chart picture still fits the outlook of consolidation to $650 (horizontal pale blue) prior to a block reward halving rally. The magenta arrow in the 1hr chart above suggests