Bitcoin Price Intermediate Correction

Bitcoin Price Intermediate Correction


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Bitcoin price has begun to slowly lose altitude below $580 (Bitstamp). As usual, exuberant buying continues at the wave top, so upward spikes may still form. Analysis looks for the initial confirmation of a downward price correction.

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Bitcoin Price Analysis

Time of analysis: 14h00 UTC

Bitstamp 1-Hour Candle Chart

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From the analysis pages of xbt.social, earlier today:

As the OKCoin September futures contract opened today, price surged to near $616 in that chart. Although it was not a new futures high, it does speak of the bullish sentiment of traders with regards to the late-July reward-halving event.

The other exchange charts remained subdued – most of them putting in a lower high for

Read more ... source: TheBitcoinNews

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