Bitcoin Price Hovering After Mini-Surge

Bitcoin Price Hovering After Mini-Surge

Bitcoin price pushed to $392 (Bitstamp) and, today, attempted the high again but failed. Once again in tandem with gold, bitcoin price fell away from the high and now approaches support. Will it break or will it bounce?

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Bitcoin Price Analysis

Time of analysis: 14h30 UTC

Bitfinex 1-Hour Chart


From the analysis pages of, earlier today:

The 1hr momentum indicators are all declining, but this does not preclude another wave to a new high. If price does push higher, then the new high should be accompanied by indicator divergence in the 1hr chart.

RSI (third from top) has reverse diverged (blue arrow) in relation to the high of January 21 while MACD (top) is reverse diverged to the lower high of January 24. This reverse divergence should force price lower (and there is a downward

Read more ... source: TheBitcoinNews


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