Bitcoin price surged higher earlier today and then stopped short of printing a new high. At the time of writing, the small advance is retracing and the question is whether it will continue higher, or fall back into sideways consolidation.
Bitcoin Price Analysis
Time of analysis: 14h15 UTC
BTCC 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
xbt.social held back on opening a buy trade today, based on the lack of larger timeframe indications in support of a continuing push higher.
The initial wave up resembles a first wave of advance and, even now (see chart above), it is retracing in a similar manner to the first wave of advance we saw earlier in the week.
For all intents and purposes the chart appears bullish, but there is some residual caution that is