Bitcoin Price Selling Lower

Bitcoin Price Selling Lower

Bitcoin price dropped through at 2900 CNY and $440 (Bitstamp) and is currently trading in a holding pattern near $430 and 2820 CNY.

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Bitcoin Price Analysis

Time of analysis: 14h30 UTC

Bitstamp 1-Hour Chart


From the analysis pages of, earlier today:

Yesterday’s last analysis update stated:

The 4-hour and 1-day charts are technically bullish, but a reversal to the downside will quickly change that.

Until we see a price wave push to a new high, the resistance ceiling may continue to prevent advance. To the downside, if the market chooses it, there is a free-fall zone below $440 down to $400.

Today’s price action opened with a $20 drop after which price has held above $420 (Bitstamp) for most of the day.

The 1-day chart remains bullish, but the 4-hour timeframe is turning bearish. As the moving averages

Read more ... source: TheBitcoinNews

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