Bitcoin price has come down from a surge high and the market is struggling to find support.
Bitcoin Price Analysis
Time of analysis: 12h00 UTC
BTCC 4-Hour Chart
From the analysis pages of xbt.social, earlier today:
The 4hr BTCC chart shows price heading toward the same red Fib line that we’d been referencing during the base-forming phase of the past few weeks. Potentially price will find support there and head up in another wave of advance.
For confidence in continuing advance, we want to see price advance to a new high. The risk remains a triple top and a breakdown to the downside in the face of uncertainty regarding XT. Going into the 10th and 11th of January there should be some market uncertainty – however faint – about a potential problematic hardfork of the Bitcoin blockchain.