Bitcoin Price Compression Building Pressure

Bitcoin Price Compression Building Pressure

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?

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Bitcoin Price Analysis

Time of analysis: 14h30 UTC

Bitstamp 1-Hour Candle Chart


From the analysis pages of, 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. has prepared a sell recommendation with trade parameter for the case where sell-off grips the market

Read more ... source: TheBitcoinNews

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