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The bitcoin price chart is slumping and a potential drop lower edges to the edge of support. Even as a long-term $1,750 swirled in the tea leaves, yesterday, we can see a tea-tree ladder with rungs at $600, $560, and $500.
Bitcoin Price Analysis
Time of analysis: 11h00 UTC
Bitstamp 4-Hour Candle Chart
From the analysis pages of xbt.social, earlier today:
We currently see price testing its 20MA (green) and the top of a support zone (orange) around $640 (Bitstamp).
If decline continues then we would expect price to decline into the support area amidst hesitant market behavior. By the same token, the market may surprise us by just selling straight through the