Bitcoin price was washed over two waterfalls today and looks set to drop onto a support shelf at $400. With the price chart looking more bearish than it has for weeks, that may not be the end of decline.
Bitcoin Price Analysis
Time of analysis: 14h00 UTC
OKCoin BTC/USD Spot 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
The OKCoin BTC/USD Spot exchange spent most of the week with a permanent stream of large buy orders being inserted just below price. Its 1hr chart is featured above.
Earlier today, price declined to the 200-period moving average (red) in the majority of exchange charts, where it paused. However, once price broke below this bellwether (hell-weather for some) moving average, and then the lower channel trendline (grey), the bearish technical indications were