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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.
Bitcoin Price Analysis
Time of analysis: 15h00 UTC
Bitstamp 1-Hour Candle Chart
From the analysis pages of xbt.social, 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