Bitcoin price has declined to support at $285 and failed to break lower. Yesterday’s sense that direction was unknown, now sees a potential support floor for advance developing. A few clues in the price chart imply that once the consolidation is over (if not already complete), price may move on $300 again.
Bitcoin Price Analysis
Time of analysis: 03h48 UTC
Bitstamp 15-Minute Chart
From the analysis pages of xbt.social, earlier today:
During the US evening time and early Asia-Pacific session, price declined to the 1-hour 200MA – shown in the 15-minute chart, above – as the 15-minute 800MA (purple) at $285.
Four consecutive candles attempted to break below before trade finally lifted price back above $290 and 1790 CNY.
The low was accompanied by divergence in the stochastics (top) – notice the