Bitcoin Prices Flat After Volatile Trading Session » ForexNews.com

However, if we do get a brakeout, a substantial move above $615 would likely reinvigorate the rally and possibly lead to an attack at the swing high at $667. A breakdown below $560 seems less likely, given the support behind the $550 figure and the strong rejection of that area yesterday. The 50% Fib retracement of the recent move up is at $552. If prices manage to brake lower, it would expose bitcoin prices to an attack of $500. A failure of the support at $500 will lead to an effective end of the recent rally that started on May 20th. Here is today’s price action on BTC-E.

– See more at: http://www.forexnews.com/blog/2014/06/14/bitcoin-prices-flat-volatile-trading-session/#sthash.hHBzZCKY.dpuf

via Bitcoin Prices Flat After Volatile Trading Session » ForexNews.com.

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