Bitcoin cost declined an additional $30 now and is now being upheld during $357.
Bitcoin Price Analysis
Time of analysis: 15h00 UTC
Bitfinex 4-Hour Chart
From a research pages of xbt.social, progressing today:
Price has found support during a Fib line imagining during a low of 1 Jun 2015.
Additionally, 4-hour RSI shows a well-defined 5 call channel to today’s low. According to Elliott call principle, a decrease should now be complete, though a Bitcoin cost draft frequently forms waves consisting of 7 subwaves, so there is no reason to call a bottom only yet.
Note that RSI (panel immediately above price) has retreat diverged to a shutting low of 11 Nov 2015 (magenta arrow) and that MACD (top panel) confirms this retreat dissimilarity with a double bottom (not annotated).
The stocahstics (second from top) have spent several days