Bitcoin Price Advance Pauses

Bitcoin Price Advance Pauses


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Bitcoin price corrected downward earlier today as an apparent attempt at advance was slammed down by strong selling across the exchanges. Profit taking or is it reversal?

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Bitcoin Price Analysis

Time of analysis: 14h00 UTC

Bitfinex 1-Hour Candle Chart

Selection_20160605_005

From the analysis pages of xbt.social, earlier today:

The strong RSI reverse divergence pointed out in yesterday’s analysis (magenta annotations) was exacerbated by additional downward price correction and, yet, price failed to push to a new high after two attempts. Ongoing sideways correction at the current level is, therefore, the outlook.

Today’s second attempt at advancing above $584 (Bitfinex) was slammed down below the 1hr 20MA (at the green arrow). With MACD (indicator panel

Read more ... source: TheBitcoinNews

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