A spectacular Bitcoin price surge has advanced to near $260 (Bitfinex) and 1638 CNY (BTC-China). The parabolic advance has left the market wondering about the next move and at the time of writing a bout of profit-taking has set in. The wave seems to be topping out in a familiar ending diagonal, whereby successive smaller waves punch to higher highs.
Bitcoin Price Analysis
Time of analysis: 16h58 UTC
Bitfinex 15-Minute Chart
From the analysis pages of xbt.social, earlier today:
A target zone at $258-$260 may be the final destination of an incremental ending diagonal, else – if the market finds the energy for another surge – we may see price run all the way to a target nearer $270. The latter target is a 4.618