Bitcoin trading sold price from the $425 price level and is now turning back up in what should be a telling price move.
Bitcoin Trading and Price Analysis
Time of analysis: 14h30 UTC
OKCoin BTC/USD Spot 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
Unlike the CNY exchanges, the USD exchanges had not strained higher overnight. The CNY exchanges keep trying for a new high with BTCC, especially, having optimistic buyers that kept its price above Huobi and OKCoin for most of the day.
The 4-hour chart (not shown) had become overbought today while the 1-hour chart (above) 20-period moving average (green) lost upward trajectory – implying a wave back down to the 200MA (red).
Currently, a combination of RSI reverse divergence (magenta line) and the stochastics having grouped at their minimum