Bitcoin Price Advance Gains Momentum

Bitcoin price advance started gaining momentum toward the end of the current wave. Analysis shows price may make an additional high and if the previous acceleration continues, price may continue surprising despite strong technical indications requiring it to cool down.

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Bitcoin Price Analysis

Time of analysis: 15h00 UTC

Bitfinex 1-Hour Chart

Bitfinex 1-Hour ChartBitfinex 1-Hour Chart

From the analysis pages of, earlier today:

Magenta line annotations show the divergences present in the indicators. RSI gives us a warning of potential upside continuation: the last high caused divergence in RSI but the move down has caused reverse divergence, i.e. a new indicator low while price is only making a higher low in relation to the previous price swing.

If price continues higher then the magenta circle

Read more ... source: CryptoCoinsNews