Bitcoin Price Flying The Envelope – CCN: Financial Bitcoin …

Bitcoin Price Flying The Envelope – CCN: Financial Bitcoin …

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Bitcoin price continues correcting as the prospect of advance dawns on the market. The general hesitancy to join trend is understandable given this chart’s perverse tendency to fake-out on apparent trending moves. The melodrama of decline in the Chinese exchanges has proven to be just that – every time. They cannot sell lower because there is nothing for the bears down there.

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Bitcoin Price Analysis

Time of analysis: 14h00 UTC Saturday

Bitstamp 4-Hour Candle Chart


From the analysis pages of, earlier today:

Objective conditions continue to support a view of continuing advance.

Price advances above 1hr, 4hr, 1day, 3day and 1week 20MAs.

The potential reversal at $630 looms but seems less likely as 1day MACD crosses above its zero line at the time of writing. Yet, the situation remains: price advance is constrained by the $630 level and the MACD cross-over could happen but advance delayed until Sunday or Monday.

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Read more ... source: TheBitcoinNews

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