Bitcoin price is pushing higher once again but the market is struggling to make a new high since last week. Could this be the final push to resistance?
Bitcoin Price Analysis
Time of analysis: 15h00 UTC
Bitfinex 1-Hour Candle Chart
From the analysis pages of xbt.social, earlier today:
The exchanges saw a bout of increased buying between 12h00 and 15h00 UTC when the bulls pulled price out of its ongoing two-day slump. At the time of writing the push has not produced a new high (since last week) in any of the exchange charts – with the exception of a nominal new high in the BTCC chart.
The upside level to conquer is at $470 (Bitstamp) and 3000 CNY, shown in red in the 1-hour chart.
Establishing trade above this long-term resistance layer remains the market’s