Bitcoin Trading Chooses The Upside

After analysis had been posted, yesterday, bitcoin trading bought price up in a surge above resistance. Although more upside may be in store there is another upside technical hurdle looming on the horizon.

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Bitcoin Trading and Price Analysis

Time of analysis: 15h03 UTC

BTC-China 1-Day Chart

BTC-China 1-Day Chart

From the analysis pages of, earlier today:

The 1-day chart shows that yesterday’s volatile move was technically justified:

MACD (top) has been steadily rising since the late-September low near $220 / 1450 CNY with a major reverse divergence looming but not yet in effect (green arrow, top).

RSI (third from top) had, correctly, indicated a higher high to the previous higher high of price (blue annotation).

In the BTC-China and Huobi charts the green 20MA crossed above the red 200MA and price dutifully pushed higher. This

Read more ... source: TheBitcoinNews