Bitcoin price continued sideways today in low volume trade that is looking more and more likely to turn to decline.
Bitcoin Price Analysis
Time of analysis: 14h00 UTC
OKCoin BTC/USD 4-Hour Chart
From the analysis pages of xbt.social, 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