Bitcoin Price In Downward Correction

The past six weeks’ bitcoin price rally has bolstered the market’s confidence. A technical price correction coincided with news about Greece, yesterday. Even in correction, the market is now more active and optimistic and we may expect additional rallying price waves when the current retracement has run its course.

This analysis is provided by with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29.

Bitcoin Price Analysis

Time of analysis: 10h45 UTC

Bitstamp 4-Hour Chart

Bitstamp 4-Hour Chart

From the analysis pages of, earlier today:

A look at the longer timeframe 4-hour chart shows the rally to a wave high near $320 and 2000 CNY. The level of the high is slightly below $320 and corresponds to a 2.618 Fibonacci extension (obscured by chart text) projected from the very first wave of advance during the first half of June.

There are some technical factors that argue in favor

Read more ... source: CryptoCoinsNews