Bitcoin price continues trading above $600 and 4,000 CNY across exchanges. Price action and market momentum are slowing, as bitcoin price typically does prior to a strong directional move.
Bitcoin Price Analysis
Time of analysis: 12h00 UTC Wednesday
Bitstamp 4-Hour Candle Chart
From the analysis pages of xbt.social, earlier today:
Price holds above $600 and 4000 CNY while the 1day and 3day charts remain in bullish mode.
The 1hr and 4hr timeframe charts are not emitting directional signals and we see the 4hr chart, above, holding above $600, above its 200MA and above a horizontal support level (blue) near $590. The longer price can