Bitcoin Price In A Downdraft

Bitcoin Price In A Downdraft

Bitcoin price topped out its advance with a whimper, yesterday, and has resumed decline at the time of writing. Meanwhile, gold is shooting to the moon.

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Bitcoin Price Analysis

Time of analysis: 15h00 UTC

BTCC 1-Hour Chart


From the analysis pages of, earlier today:

The OKCoin Spot BTC/USD chart had been the main mover during early trade, and it advanced to a double top from which it then pulled back.

The other exchanges had not pushed to an equivalent high and failed to do so during the course of the day. Of course, all exchange charts don’t *have* to achieve a similar reversal pattern but it helps to increase confidence that a move is at its end.

The expected decline set in once the upward strain became too slow and tedious for the bulls who had

Read more ... source: TheBitcoinNews


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