Bitcoin price was showing signs of topping since yesterday and after a strong push to 3100 CNY and $480 (Bitstamp) price plummeted $100 in some exchanges before recovering during the day.
Bitcoin Price Analysis
Time of analysis: 11h30 UTC
Bitstamp 1-Day Chart
From the analysis pages of xbt.social, earlier today:
The analysis below was already written by the time I post this and the price correction has begun. Price has triggered both our xbt.social dynamic stop-losses and the trade is closed after raking in large profits on this last move.
Analysis written a few minutes prior to 04h00 UTC:
Price has gone parabolic and the indicators are maxed out. The advance is approaching the levels of the November top.
Unfortunately, if you’re not in position already, there is no safe way to join the trend. The compulsion to join is overpowering, but by the law of the market – as soon as you do get in – price is likely to reverse.
The only way of