Bitcoin price hovers above $410 as the market comes face to face with its options. Buy today and risk betting on the reward-halving rally too soon, or sell now to buy into the post-Classic(TM) relief rally later.
Bitcoin Price Analysis
Time of analysis: 13h00 UTC
OKCoin BTC/USD 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
As anticipated in yesterday’s analysis post, magenta arrows at the top-right of the chart show that MACD has returned to its zero-line, and RSI has peaked above 60. The stochastics (top) will soon group at their maximum value.
The RSI peak had formed reverse divergence to a previous RSI peak and the high is not confirmed by price making a similar high above the corresponding price high. This reverse divergence should see price continue lower when