Bitcoin price had declined according to expectations yesterday, only to fling back to near its price highs today. The verdict is out whether the bulls can achieve another high or if the present failure will prompt a sell-off.
Bitcoin Price Analysis
Time of analysis: 13h44 UTC
BTC-China 4-Hour Chart
From the analysis pages of xbt.social, earlier today:
A cruel and unrelenting market pushes to a new high in B wave price action – sucking buyers into an upside that is doomed to retrace, probably to its humble beginnings near the support floor.
The analysis presented during the past few days has illustrated that this is not the wave to $1000, but the most optimistic bulls are piling in, regardless.
Today’s strong move to the upside did not print a new high and counts three waves