After a shaky start in choppy trade around $230 and $240, bitcoin price is covering increasingly larger distances as the upstrend accelerates. Will it go to the moon. Chart technicals suggest not yet.
Bitcoin Price Analysis
Time of analysis: 15h09 UTC
BTC-China 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
RSI made a regular divergence to the new price high, and hence today’s price correction. Larger RSI reverse divergences have formed in the 4-hour chart as well as the 1-day chart. The 4-hour reverse divergence is to the mid-July high and the 1-day reverse divergence is to a high made in June last year. However, today’s daily candle has not yet closed so the 1-day timeframe indications remain tentative.
What seems missing in the current wave is a final