Bitcoin trading had price return to its 200-period moving average, yesterday, and today it fell away again. The return of Greece to the global economic stage on Sunday may see the important 200MA tested again.
Bitcoin Trading and Price Analysis
Time of analysis: 15h38 UTC
OKCoin 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
The stochastics (top) are dropping way from their upper extreme – after indicating divergence on the last high. RSI (second from top) has reverse divergeed to the upside on the last push above the 20MA while price did not make a higher high – a signal of downward continuation. We expect RSI to show strong divergence when price makes the final low for this initial small wave of decline.
A familiar world political event comes back into focus tomorrow, Sunday: Greece’s delayed party elections.
The event has both political and economic dimensions, in that the ruling Syriza party might have to (according to Greek