Bitcoin price returned to life again after the domination of the tight range in the past days, to manage to breach the EMA50 and hold above it, reinforcing our expectations of continuing the bullish trend that targets 658.00 followed by 700.00 levels mainly. Therefore, the bullish bias will remain suggested in the upcoming sessions, unless the price witnessed clear break and hold below 528.00.
Expected trading range for today is between 560.00 support and 658.00 resistance
Expected trend for today: Bullish
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@lordoftruth
G20 hinted at a possible Yuan devaluation so the Chinese started buying up BTC. A Yuan deval is definitely possible in the near future so Bitcoin could be looking at a strong run into the end of the month when the IMF includes the Yuan into the SDR basket of currencies.
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Ok, is BTC legalized in China? This would screw up the price :-)
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If the trading volume increases, we'll see BTC buys are growing up. I'm a little bit pessimitic. Good chart, thank you for the information. Watch also ETC and ETH!
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