The Bitcoin price started advancing on 28 June after Greek Prime Minister Alexis Tsipras announced a referendum following a deadlock in Greece’s negotiations with creditors. The Day of Greckoning has arrived and, once again, trade is pushing higher. Will a Greek “No” vote spark a rally?
Bitcoin Price Analysis
Time of analysis: 14h52 UTC
Bitstamp 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
Price is pushing up against a long-term dynamic envelope, from the 1-day chart, and drawn in Greek Chrysanthemum pink in the chart above. An earlier attempt to advance above the level ($262 / 1624 CNY) was rejected but trade is approaching it again, at the time of writing.
The sense is that the market is anticipating a “No” vote from Greece and wants to rally