Bitcoin Value Holding Price Above Support

Bitcoin value is holding price above support near $275 and attempts to sell price down have been foiled by strong buying support. Analysis considers market psychology at the current juncture in the chart, as well as potential outcomes.

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Bitcoin Price Analysis

Time of analysis: 06h43 UTC

Bitstamp 1-Hour Chart

Bitstamp 1-Hour Chart

From the analysis pages of, earlier today:

The 1-day 20MA is currently located at $274.80 in the Bitstamp chart and there is strong buying support, since price is not getting more than a few pips below $276 (Bitstamp).

For now it looks like the support is holding. If it refuses to give way – and the market cannot get below it – then the only option for traders is to buy. But the market could have done this already… so, there

Read more ... source: CryptoCoinsNews