Bitcoin hits the first target, heading for the next one

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
154 0 3
Bitcoin             price touched 550.00, reinforcing our bearish overview, falling under more negative pressure coming from the EMA50 and stochastic , which supports the idea of heading towards 496.80 now.

More decline will be waiting, while breaching above 624.00 will provide the key to escape the current bearish pressure and leads to recovery attempts on the short term basis.
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