Bitcoin price is caught in a negative social mood. Trading below the critical $400 level, and descending, what can we say?
Bitcoin Price Analysis
Time of analysis: 15h00 UTC
OKCoin 3Month 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
Price is drawing lower beneath its 200-period moving average. It is not clear if we’ll see $300 eventually, but negative mood pulls the king of commodities lower.
The amount of money invested in Bitcoin Core is large. Silicon Valley seems to think that they can disrupt that investment with a nilly-willy fork. That’s not clear thinking. Censorship-resistance means that Bitcoin Core remains a permanent feature and Classic(TM) and Unlimited will never succeed, like the failed pretender-XT.
Bitcoin price is trading lower in negative mood. The antagonists are clear to see. Later we expect a reward-halving rally, but for now it’s lower on negative expectation.
Bitfinex Depth Chart and Buy/Sell Volume
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Bitcoin price charts from TradingView.
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