Bitcoin price is midway between this week’s earlier high and yesterday corrective low. Currently hovering around $267 and 1672 CNY for most of the Asia-Pacific session, the European and US sessions may generate more movement. Yesterday, we outlined a few scenarios for the coming weeks and today’s analysis tries to find the immediate direction from a 4-hour chart assessment.
Bitcoin Price Analysis
Time of analysis: 05h33 UTC
Bitfinex 4-Hour Chart
From the analysis pages of xbt.social, earlier today:
Price is midway between the corrective low and this week’s high.
A 4-hour chart shows the range of consolidation since January of this year.
The most recent price high did not touch the upper blue trendline and may yet do so. Yesterday’s price action made a dash for a new high but then ran