Bitcoin Price Micro Advance or Mini Consolidation?

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.

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Bitcoin Price Analysis

Time of analysis: 14h15 UTC

BTCC 1-Hour Chart


From the analysis pages of, earlier today: 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

Read more ... source: TheBitcoinNews

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