Bitcoin Price Advance Tops Near $280

The Bitcoin price advance topped out near $280 and 1740 CNY in typical jumpy market-high price action. Currently, a declining wave has dropped below $270 and looks to be heading lower. technical analysis examines the most recent price wave and options for its destination.

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Bitcoin Price Analysis

Time of analysis: 05h41 UTC

Bitfinex 1-Hour Chart

Bitfinex 1-Hour Chart

From the analysis pages of, earlier today:

Yesterday’s advancing wave topped out near $280 and 1740 CNY before dropping below the 1-hour 20MA in what is either a correction prior to another wave of advance or a declining wave to $250 and lower.

Those traders who had opted for a dynamic stop loss would have seen their trade close at $270 a few hours ago.

Notice that the wave had topped out to MACD and

Read more ... source: CryptoCoinsNews