Bitcoin price is attacking overhead resistance and is advancing in a strong wave toward $218. Price has been rejected by a sloping trendline at this level for several days. Will it break through this time?
Bitcoin Price Analysis
Bitfinex 15-Minute Chart
The past two days' sideways correction struck another low at 15h00 UTC and embarked, at first hesitantly, on a steady upward trajectory. By 15h20 the resistance, has not yet been reached. Price has bounced inside the price channel for several days and it is a matter of time until it breaks out.
BTC-China 15-Minute Chart
Within minutes of the start of the advance BTC-China's price, had raced ahead of the pack to attack the resistance ceiling at 1,300 CNY. If it gets through the other exchanges are sure to follow.
Bitcoin price is advancing from a corrective low. At the time of writing, price is approaching overhead resistance in the BTC/USD charts. BTC-China was already grappling with this level. Will it get through? Not this time.
Techincal analysis at xbt.social weighs in favor of an upside breach of spectacular proportions - with a twist. Join the analysis and trading community at xbt.social for collaborative market analysis and trading insight.
The buying volume has been picking up at Bitfinex over the past hour, indicating a rising bullish sentiment.
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The writer trades Bitcoin. Trade and Investment is risky. CCN accepts no liability for losses incurred as a result of anything written in this Bitcoin price analysis report.