Bitcoin Price Decline Bounces From $465

Bitcoin Price Decline Bounces From $465

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Bitcoin price slammed through several layers of support to hit a previous long-term resistance level at $465. Although the market seems to have found a bottom, there is not yet any technical reason to believe the decline is complete. Now is the time to count your money and sit out of the market for a few days or weeks.

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Bitcoin Price Analysis

Time of analysis: 14h00 UTC Wed 3 Aug

Bitstamp 1-Day Candle Chart


From the analysis pages of, earlier today:

The 4-hour and 1-day timeframe charts gave us MA sell signals, and the 3-day chart gave us MACD and stochastic bearish signals. During the overlap of the late US trading session and early Asia-Pacific sessions, bitcoin price was sold to the resistance-turned-support level at $465 (Bitstamp).

Although the primary target posted at (and here) was $580, the previous CCN analysis post did concede that “Some analysts are calling for decline

Read more ... source: TheBitcoinNews

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