Bitcoin price sold off $50 in a single hourly candle during US daytime, yesterday. Trend remains up.
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Time of analysis: 14h00 UTC Monday
From the analysis pages of xbt.social, earlier today:
A shock reversal knocks us out of the trade, even though trend remains up.
The violent downward correction of more than $50 ended up making a higher low and quickly regained trade above $600 (Bitstamp). We could not have anticipated the sell-off happening as price was apparently advancing through the critical $640 level before it reversed.
The target remains $680 with support at $600.
Bitcoin price is retesting $600 and should resume advance in the coming days. We continue looking to $680 for resolution.
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The writer trades Bitcoin. Trade and Investment is risky. CCN.LA accepts no liability for losses incurred as a result of anything written in this Bitcoin price analysis report.
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