Bitcoin Trading at a Crossroad

Bitcoin trading pushed price to a potential breakout, overnight, but failed to advance price above critical resistance. A potential tipping point into further decline awaits below – can the bulls get it together to re-ignite the rally?

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Bitcoin Trading Price Analysis

Time of analysis: 15h59 UTC

BTC-China 4-Hour Chart

BTC-China 4-Hour Chart

From the analysis pages of, earlier today:

Price remains capped, overhead, by the 4-hour green 20-period moving average (20MA).

The market let pass an opportunity, earlier in the day, to break above the 20MA into the clear indicator space to $400 and 2600 CNY.

Meanwhile the 200MA (red) lies close below and the 20MA is approaching it at a fairly steep angle of decent. Remaining below the 20MA, price could soon get sucked under the 200MA as the 20MA makes a

Read more ... source: TheBitcoinNews

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