Bitcoin price pulled back to support last night and, during Monday’s early Asian trading session, advanced to target near $238 (Bitfinex). The move may not be over but it will need to retrace soon – whatever the larger trend may be.
Bitcoin Price Analysis
Time of analysis: 08h46 UTC
Bitfinex 4-Hour Chart
From the analysis pages of xbt.social, earlier today:
Price found support at the intersection of a Fib line and the 4-hour 200MA and is now advancing again. The advance may only be corrective but according to regular/reverse divergence interplay in the 1-hour chart we should see a new high to one of the targets discussed yesterday and indicated with magenta circles in the chart above.
The looming RSI divergence on the