Bitcoin Price: Compulsive Buyers Cool Down

Bitcoin Price: Compulsive Buyers Cool Down

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.

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Bitcoin Price Analysis

Time of analysis: 14h00 UTC

OKCoin 3Month Futures 1-Hour Chart


From the analysis pages of, 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),

Read more ... source: TheBitcoinNews


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