Bitcoin price has been holding above the 1-hour 200MA in some charts, and crisscrossing it in others. Common to all exchange charts is the support zone around $240 and 1500CNY. The market may trade price into advance or it may choose the low road. We look for the critical levels to trade from.
Bitcoin Price Analysis
Time of analysis: 17h00 UTC
Bitstamp 1-Hour Chart
From the analysis pages of xbt.social, at 04h00 UTC today:
Price is unfolding in a pattern that matches the B wave anticipated in weekend analysis. The B wave now seems to be completing a subwave “c” to the upside. Addtional waves “d” and “e” may unfold, thereby drawing trade sideways into a MA sell signal. Or wave “c” may push higher toward the green Fib line