Bitcoin Price has been advancing persistently and hit $260 / 1620 CNY during today’s Asia-Pacific trading session. xbt.social analysis considers what lies ahead.
Bitcoin Price Analysis
Time of analysis: 04h59 UTC
Bitstamp 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
The advance is approaching target at $261 and 1621 CNY.
Price has pushed relentlessly through resistance and into compounding divergence to the upside. The advance is now approaching the 1-day 100MA’s 10% envelope at $261 and 1621 CNY and we should see a reaction at this level.
The nature of the reaction will determine the outlook going forward. Price is advancing relentlessly, although with strain, and this energy is not evident in any other market charts. Following the weekend’s news out of Greece, the initial market reactions have