Bitcoin price is simmering just above $670 as the market waits for the Bitcoin network starter gun. Where to and what may happen in the chart before the block reward actually halves?
Bitcoin Price Analysis
Time of analysis: 14h30 UTC
Bitstamp 1-Hour Candle Chart
From the analysis pages of xbt.social, earlier today:
The market-wide expectation generally seems to be that price will advance into, at, or after the block reward halving event. Advancing too soon may force a correction near the previous top. Advancing too late risks a nervous sell-off.
Price may draw lower (toward $650 Bitstamp) as the consolidation progresses and the charts may become bearish with sell signals apparently forming as the moment of surge approaches. xbt.social has prepared a sell recommendation with trade parameter for the case where sell-off grips the market