Bitcoin trading continues buying into the advance that has not seen a new high, in a week, in the leading CNY exchanges. The USD exchanges have pushed to a higher high but have only eeked out a $6 push higher during the past 24 hours. Diverged charts imply a downward correction could set in over the weekend.
Bitcoin Trading and Price Analysis
Time of analysis: 14h59 UTC
BTC-China 4-Hour Chart
From the analysis pages of xbt.social, earlier today:
The potential for a double top had been evident since last weekend’s high failed to sell off below support at midweek. The CNY exchanges are still conforming to the double top pattern while the USD exchanges that have not been leading this advance all along have printed higher highs. Go figure.
The current pattern