Bitcoin Price Returns From Altitude

Bitcoin price made reentry last night and bounced at $300 and 1800 CNY after trading at almost double those prices less than a week ago. How low could it go?

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Bitcoin Price Analysis

Time of analysis: 15h27 UTC

BTC-China 4-Hour Chart

BTC-China 4-Hour Chart

From the analysis pages of, earlier today:

A massive move lower came as a shock – not because it declined – but because it did so without clear signaling in the chart – preventing us from taking advantage of the bulk of the decline.

Some observations:

1) A corrective instance on the left (magenta annotation on price and RSI, just above price) had made a higher low while RSI was reverse diverging. The present correction did the same, but just pushed lower regardless – most probably because it is a larger

Read more ... source: TheBitcoinNews

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