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Bitcoin price keeps simmering below $600. Perhaps ominously so. Direction is uncertain and the advice to traders remains the same: rather than anticipate the move, let the market show the way.
Bitcoin Price Analysis
Time of analysis: 14h00 UTC
Bitstamp 1-Hour Candle Chart
From the analysis pages of xbt.social, earlier today:
The uptrend has steadily lost momentum and trajectory since the beginning of June.
From a bearish perspective the price action can be interpreted as a rounded top. The outlook would be for price to perhaps attempt $600 again, and then sell-off in a bout of profit taking. Although such a sell-off could draw price back below $500, a strong bounce from the