Bitcoin Price Pullback, Should Achieve $600

Bitcoin Price Pullback, Should Achieve $600

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Bitcoin price retraced all of the advance since yesterday’s post, but a 1-hour chart RSI divergence combination implies another wave to $600 (Bitstamp).

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Bitcoin Price Analysis

Time of analysis: 14h00 UTC

Bitfinex 1-Hour Candle Chart


From the analysis pages of, earlier today:

As anticipated yesterday, price had corrected slightly downwards from its price peak, consolidated toward the 1hr 20MA (green) and then advanced toward $600 (Bitstamp).

However, during the course of the day – and prior to achieving the $600 target – a sell-off pulled price back to the 20MA where it is now consolidating.

The combination of two RSI indications implies that price is likely to complete the advance to $600.

As annotated

Read more ... source: TheBitcoinNews


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