Bitcoin price pulled lower, today, in what appears to be a larger correction prior to a final wave of advance. While prediction is dangerous, especially about the future (Niels Bohr), there is some evidence in the cart that one more advancing wave is due.
Bitcoin Price Analysis
Time of analysis: 14h54 UTC
Bitstamp 15-Minute Chart
From the analysis pages of xbt.social, earlier today:
Price made a deep correction today and a wave count interpretation of the price action is annotated above.
An Elliott wave count has the present low as a completed (or near complete) wave IV. We cannot yet be certain that the market will not make one more declining wave to the red label v, so caution is advised until price has confirmed the end of the wave IV correction by advancing above the 20MA in the 1-hour chart (the above chart is 15-minute candle timeframe).
The interpretation that wave IV may already be complete is based on the