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Bitcoin price, that old rascal, had shook out a lot of longs to $650 and is now building base waves, to $650, for a pending launch toward the June top.
Bitcoin Price Analysis
Time of analysis: 14h00 UTC
Bitstamp 1-Hour Candle Chart
From the analysis pages of xbt.social, earlier today:
Bitcoin price has returned to above its 1hr 200MA and the interim correction to $650 (Bitstamp) appears complete.
It is unlikely that price will fling straight into advance and more likely that bitcoin price first does what it does most often: consolidate prior to the next wave of advance.
A market truism states: “Sell the rumor, buy the fact”. This may seem inappropriate to