Bitcoin price dropped below $420 yesterday and continues sideways in most exchange charts while compulsive buying at the Chinese exchanges attempts a revival of the strained, low-volume advance.
Bitcoin Price Analysis
Time of analysis: 14h00 UTC
OKCoin 3Month Futures 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
Unusual for the strangely coordinated bitcoin chart, today saw divergence in price action across exchanges. Whereas the USD exchanges (notably BTCe, Bitfinex, Bitstamp) have held near $420 for most of the day, the Chinese exchanges (BTCC, Huobi and OKCoin amongst others) have swung strongly in the chart area below yesterday’s high.
Early trade saw price make a larger correction from yesterday’s high. Again, there was disparity between exchange charts: price hit the top of the channel trendline illustrated in yesterday’s analysis chart (light blue),