Bitcoin has recovered from the brutal pull back related to the Chinese banning Initial Coin Offerings.
The Reversal
In the chart, you see the $3000 level held as support once it reversed. Actually, the $3516 price point served as the next higher support level which was tested twice. Since September 22, Bitcoin has gradually move up. I see the next resistance area around $4494.
Bitcoin is back. I sold some here after the big run up. It appears that Chinese news was a buying opportunity.
Thanks,
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