Bitcoin Price Analysis: Two Paths

Bitcoin Price Analysis: Two Paths

Bitcoin price printed another nondescript feeble advance, after failing to engage in decline. Analysis considers this year’s price action to-date and shows some wave counts of the market’s options.

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Bitcoin Price Analysis

Time of analysis: 14h00 UTC

OKCoin 3-Month Futures 4-Hour Chart


From the analysis pages of, earlier today:

At this stage of correction it is unsure what the market is doing with price. The complexity of the correction probably reflects the indecision in the market:

Large buy orders are inserted just below the level of price more or less permanently in most exchanges. In other words there is massive accumulation happening, but the bulls are hesitant to begin charging. Perhaps there is a coordinated effort by the largest players to prevent these upward spikes from running too far, so that their

Read more ... source: TheBitcoinNews

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