BITCOIN PRICE CORRECTION BOUNCES UP

Yesterday’s Bitcoin price correction continued in early trade and eventually found chart support at the 200-period moving average (MA). At the time of writing a bounce off the 1-hour 200MA seems to have legs, provided price can hold above the 200MA in the 4-hour chart.
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Price Analysis Time of analysis: 16h58 UTC
Bitfinex 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
The bounce from the 1-hour 200MA continues higher while the 15-minute chart (not shown) flashes bullish signals.
Here in the 1-hour chart the indicators favor continuation to the upside:

This post was published at Crypto Coins News on 05/05/2015.

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