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.
Bitcoin Price Analysis
Time of analysis: 15h20 UTC
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