Bitcoin Price Bumped Down By $680 Resistance

Bitcoin Price Bumped Down By $680 Resistance

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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.

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Bitcoin Price Analysis

Time of analysis: 13h30 UTC

Bitstamp 1-Hour Candle Chart


From the analysis pages of, 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

Read more ... source: TheBitcoinNews


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Akin Fernandez is the owner of bitcoin voucher service Azteco and an active technology blogger under the pen name 'Beautyon'. In...