Bitcoin Price Teetering On The Edge

Bitcoin price has made the characteristic corrective C-wave that curves back down to the initial A-wave low. Although we cannot be sure that the downside correction is complete, we do know what to look out for to confirm advance.

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Bitcoin Price Analysis

Time of analysis: 15h20 UTC

BTC-China 4-Hour Chart

BTC-China 4-Hour Chart

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

Price action has looked close to a sell-off on several occasions during the past days, and each time, failed to drop away.

The market had an opportunity, this morning, to descend into short-selling behavior, which it let pass. The current low does not yet show divergence in the RSI indicator – in other words, the price low and the RSI low correspond, proportionally, to the previous A-wave low. This lack of divergence may indicate

Read more ... source: TheBitcoinNews

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