Bitcoin price was eagerly sold to a low just above $300 before advancing away from it in equally enthusiastic trade. Apparently stuck in a rut above the $300 security blanket level, the market may not move significantly until the Fed fires the lift-off starter-gun in December.
Bitcoin Price Analysis
Time of analysis: 14h09 UTC
Bitstamp 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
Price corrected downwards, early today, to $310 (Bitstamp) and 2015 CNY before retracing most of the move for the rest of the day.
The move had made no new price low and there are two likely expectations:
1) The market is trying to test $300 but there is strong buying interest even above this level. Once all those who intended to buy have done so, the next sell-off