Bitcoin price has been ticking sideways in a narrow range for days. The more time passes the more uncertain the next move becomes. These are market conditions that should not be traded, and for those that must, namely CoinCompetition entrants, its no mean feat.
Bitcoin Price Analysis
Time of analysis: 16h57 UTC
Bitfinex 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
The advancing wave in the center of the chart displays many of the characteristics of an Elliott Wave impulse. Yesterday’s low seems to have been a wave 4 which will be confirmed if this morning’s advancing wave pushes to a new high. If the latter wave is indeed a wave 5 then the advance could accelerate.
The alternate scenario is