Bitcoin price is drawing sideways along a Fibonacci Fan line. While it would be highly beneficial to know the market’s next directional move from the current juncture, it is just one of those times in the chart where even the market does not know what it will do next.
Bitcoin Price Analysis
Time of analysis: 07h46 UTC
Bitfinex 15-Minute Chart
From the analysis pages of xbt.social, earlier today:
The 15-minute Bitfinex chart shows the market is following a Fibonacci fan line (originating at the advance’s base) that had served as a launchpad for the last wave of advance to near $320.
The 15-minute 200MA is now descending into the sideways path of price and will force the market to choose a direction. Getting above the 200MA may see the base of