Bitcoin Price Analysis: Short-Term Bearish

Bitcoin Price Analysis: Short-Term Bearish


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Bitcoin price holds a sideways course since the $550 high, and a brief advancing wave has paused at the time of writing. Some bearish technical indications are evident in the chart, but be cautious of selling just yet.

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Bitcoin Price Analysis

Time of analysis: 14h00 UTC

Bitfnex 15-Minute Candle Chart

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From the analysis pages of xbt.social, earlier today:

Bitcoin price made a run for the upside during the hours prior to this analysis report. As we can see from the various magenta annotations in the chart, the move has caused divergence in various indicators and there are technical reasons to believe that price will turn down – even if it is just

Read more ... source: TheBitcoinNews

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