Bitcoin price has climbed back above $400 and 2700 CNY. Whether this is a new wave of advance, or merely a correction prior to more decline remains to be seen.
Bitcoin Price Analysis
Time of analysis: 13h30 UTC
Bitstamp 4-Hour Chart
From the analysis pages of xbt.social, earlier today:
Price has returned to the confluence of its two major 4-hour moving averages (MAs): the 20MA and the 200MA.
In the 1hr chart (not shown) we see that five waves have formed to the upside. This may be a sufficient correction to see decline resume immediately, or the correction may only be halfway, and the market may compound the correction by keeping trade in this area and doing battle to maintain price above or below the 4-hour MAs.
Other than upside RSI reverse divergence at