Bitcoin Price In The Balance

Bitcoin Price In The Balance

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Bitcoin price continues slowly losing altitude below $580 (Bitstamp). The likelihood of decline remains, although we must acknowledge the possibility of a low-liquidity weekend spike to the upside.

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Bitcoin Price Analysis

Time of analysis: 14h00 UTC

BTCC 1-Hour Candle Chart


From the analysis pages of, earlier today:

Keep an eye on price action in relation to the 1-hour 200MA (red), as well as the overhead trendline (blue). If trade establishes below the 200-period moving average it will confirm a short-term bearish phase, especially if the green 20MA follows price lower and crosses below the 200MA.

Downside targets include $540 and $500.

The blue trendline above price represents a level above which the market

Read more ... source: TheBitcoinNews


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