Bitcoin Price Advance Still Unconfirmed

Bitcoin Price Advance Still Unconfirmed

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Bitcoin price pushed higher in a small advancing wave today, Although the price wave resembles the initial stages of advance, there is not yet high confidence that the push higher will continue.

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Bitcoin Price Analysis

Time of analysis: 15h00 UTC

BTCC 1-Hour Candle Chart


From the analysis pages of, earlier today:

The rounded price wave that formed during the past two days (blue rectangle) had dipped lower and the market advanced price from the top of the support zone (at $650, Bitstamp), as illustrated in yesterday’s analysis post.

Today’s upside wave has been conflicted – lots of buying and selling (in low volume) – and with no meaningful progress. What is interesting about the current price wave is that it formed a rounded wave (highlighted with a blue rectangle) that resembles the “bump” we witness before a surging upside wave. Yet, the surge has not materialized.

Our expectation and trade plan remains

Read more ... source: TheBitcoinNews


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