Bitcoin Price Sell-Off To $650

Bitcoin Price Sell-Off To $650

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Bitcoin price made a corrective high at $705 (Bitstamp) and was then sold off to $650 for the duration of the day. What the market does next will determine trend for the next week.

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Bitcoin Price Analysis

Time of analysis: 15h00 UTC

Bitstamp 1-Hour Candle Chart


From the analysis pages of, earlier today:

The deep retracement that was anticipated in analysis, last week, has set in and we see the charts currently holding support at $650 (popular USD exchanges) and 4350 CNY. The level also corresponds to a trendline (magenta) drawn from the level from which the corrective advance started.

There is no telling what the market will do next. One scenario

Read more ... source: TheBitcoinNews

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