Bitcoin price pushed above $450 and 2900 CNY overnight and at the time of writing is retesting a resistance level it pushed through to make the new high.
Bitcoin Price Analysis
Time of analysis: 14h00 UTC
OKCoin BTC/USD 4-Hour Chart
From the analysis pages of xbt.social, earlier today:
The 4-hour OKCoin chart shows price falling back to a Fib line that originates at the November closing high.
If price can close the current daily candle above this line then the resistance level will have been shown to provide support and the advance could continue higher and possibly accelerate.
This will be a suitable condition upon which to build a long position, provided the momentum indicators confirm additional advance in the 1-day and 4-hour charts. At the moment the 4-hour indicators are diverged to the upside, as