Bitcoin Price Corrective High

Bitcoin Price Corrective High

Bitcoin price was pushed higher by eager buying today. The price move shows signs of being a corrective advance that will soon give way to the declining scenario discussed in weekend analysis.

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Bitcoin Price Analysis

Time of analysis: 14h00 UTC

OKCoin 3Month Futures 4-Hour Chart

Selection_20160229_005

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

Although the resistance ceiling is still some distance above price, it is likely that the current advancing wave is close to making (or has already made) a corrective top.

The wave looks aggressively impulsive, but there is no reason to believe it will achieve a new high above the top formed nine days ago. There are no buy signals at any timeframes and the indicators are generally overbought. In many ways, the present wave is typical of an impulsive C

Read more ... source: TheBitcoinNews

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