xbt.social analysis has been biased to a decline below $240 for the past week. Yesterday, Bitcoin price dipped below this important support level twice before retreating again this morning. Following a pullback, it is anticipated that the market will return price to this level – a break below it implying decline to at least $235.
Readers are alerted to a new analysis update schedule: starting today, daily Bitcoin price analysis will be published at the start of the day (UTC). Articles will be updated with major market events, during the course of the day, where appropriate.
Bitcoin Price Analysis
Time of analysis: 05h42 UTC
BTC-China 4-Hour Chart
From the analysis pages of xbt.social, earlier today:
Price continues testing the $240 / 1488CNY level and may now retreat higher in the