FXHighway

Bitcoin needs the confirmation signal

BITSTAMP:BTCUSD   Bitcoin / Dollar
31 0 1
The sideways range still dominates the bitcoin price trading, between the 624.00 support and 653.00 resistance, being aware that the bearish correctional trend line declines now to 643.00 (can be seen with a wider look at this chart), which means that breaching this level will provide an initial motive to surpass 653.00 level followed by attempting to regain the main upside trend again.

In general, the sideways trading expectations will remain valid on the intraday basis, noting that breaking below 624.00 will open the way to target 496.80 levels mainly, while breaching above 643.00 then 653.00 will push the price towards 751.00 initially.
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