Bitcoin Price Surges But Remains Cautious

Bitcoin Price Surges But Remains Cautious


Advertised sites are not endorsed by us. They may be unsafe, untrustworthy, or illegal in your jurisdiction.

Bitcoin price surges higher but remains within the area of the recent correction. Technical analysis looks at levels and confirmation of advance.

This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29.

Bitcoin Price Analysis

Time of analysis: 14h30 UTC

OKCoin 3Months Futures 1-Hour Candle Chart

Selection_20160603_002

From the analysis pages of xbt.social, earlier today:

Price has surged higher from its 1-hour 20-period moving average (20MA).

Although this could very well be the start of the next wave of advance toward upside targets at $600 and $680, there are two concerns that warrant caution:

1) The small parabolic wave of the past few hours typically characterizes the ending of a surging move.

2) Price has not yet left the area of recent correction (blue rectangle).

Given the

Read more ... source: TheBitcoinNews

News from Darknet

NO COMMENTS

Read previous post:
Colbitex to Launch First Bitcoin Exchange in Colombia

Colbitex, Colombia’s first Bitcoin exchange has launched its platform in testnet mode on June 3, 2016, to provide Colombians a...

Close