Yesterday’s final analysis post identified a set-up for another wave of advance. Bitcoin price action, since, has confirmed the potential move – and it is, apparently, now underway.
Bitcoin Price Analysis
Time of analysis: 14h54 UTC
BTC-China 4-Hour Chart
From the analysis pages of xbt.social, earlier today:
The chart, above, is a 4hr BTC-China chart, but the price pattern is consistent across eight of the most popular exchange charts, and the upside targeting involves the 1.618 and 2.618 fib extensions [of the last wave to the upside] in all of them.
A price spike may occur in some charts, and where it does, there is no consistent target. In some charts the spike extends to the 1-day 800MA and in others it falls short, but the 3rd wave up (in all charts)