Bitcoin Price Analysis: Looking Bullish But Bias Bearish

Bitcoin Price Analysis: Looking Bullish But Bias Bearish

Bitcoin price continued sideways today in low volume trade that is looking more and more likely to turn to decline.

This analysis is provided by with a 3-hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29.

Bitcoin Price Analysis

Time of analysis: 14h00 UTC

OKCoin BTC/USD 4-Hour Chart


From the analysis pages of, earlier today:

Two wave counts reflect the ambiguity of the current juncture of price.

At the present high inside the rising channel (dotted grey lines), the B-C-D count (black labels) has reached a corrective high from where we’d expect to see decline to at least $370 – the level of the base of the previous corrective advance.

An alternate wave count (red labels) is bullish and would see price accelerate to the upside in a rally toward $500.

Today’s 15-minute and 1-hour charts (not shown) give the impression that price could be forming a base for another

Read more ... source: TheBitcoinNews


Read previous post:
ETFs’ ‘Spider Woman’ Argues for a Bitcoin Fund

When one of the first exchange-traded funds launched in 1993, securities lawyer Kathleen Moriarty received a gift from her legal...