Bitcoin price corrected over-night. At the time of writing decline has resumed and Gavin Andresen better call a truce in his personal stand-off with the Core developers or risk splitting off a Classic(TM) altcoin.
Bitcoin Price Analysis
Time of analysis: 15h00 UTC
Bitstamp 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
No too much to comment on: a new low and progress toward the 4hr 200MA target.
Still buying seems relentless – large buy orders are being placed (and executed) in the orderbook. Is it profit taking or are there really buyers in a market?
Terse analysis for a clear fundamental breach: mess with Bitcoin’s fundamentals, and behold the holders sell.
Bitcoin price decline continues. $400 is the primary target. As long as administrator Gavin Andresen continues a contentious hardfork the price chart will continue its long-term decline.
Bitfinex Depth Chart and Buy/Sell Volume
What do readers think? Please comment below.
Readers can follow Bitcoin price analysis updates every day on CCN.LA. A Global Economic Outlook report is published every Monday.
The writer trades Bitcoin. Trade and Investment is risky. CCN.LA accepts no liability for losses incurred as a result of anything written in this Bitcoin price analysis report.
Bitcoin price charts from TradingView.
Image from Shutterstock.