Bitcoin Price Decline Gradual

Bitcoin Price Decline Gradual

Bitcoin price decline accelerated overnight. Downside progress has seen price dip below $420 earlier today, and a correction currently has price retesting this level.

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Bitcoin Price Analysis

Time of analysis: 15h00 UTC

OKCoin BTC/USD Spot 1-Hour Chart


From the analysis pages of, earlier today:

Price looks to be embarking on the next wave down after a correction from the most recent low, and the target remains $400 (Bitstamp).

The 1hr 20-period moving average (MA) has crossed below the 1hr 200MA (red). This is a bearish indication but, unfortunately, there is no confirmation signal in any other timeframe to justify increasing position size. If price does make the plunge to $400 soon, we will only get the benefit of the quarter position size trade we initially opened.

Although it looks likely, it is not

Read more ... source: TheBitcoinNews

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