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比特币价格下沉 Bitcoin Price In A Downdraft

 

Bitcoin price topped out its advance with a whimper, yesterday, and has resumed decline at the time of writing. Meanwhile, gold is shooting to the moon.

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Bitcoin Price Analysis

Time of analysis: 15h00 UTC

BTCC 1-Hour Chart

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From the analysis pages of xbt.social, earlier today:

The OKCoin Spot BTC/USD chart had been the main mover during early trade, and it advanced to a double top from which it then pulled back.

The other exchanges had not pushed to an equivalent high and failed to do so during the course of the day. Of course, all exchange charts don’t *have* to achieve a similar reversal pattern but it helps to increase confidence that a move is at its end.

The expected decline set in once the upward strain became too slow and tedious for the bulls who had failed to make a new high despite frenetic activity, yesterday.

There were additional signs of topping, notably in the price pattern which, since yesterday’s high, resembles the jagged advance-then-drop that we saw after the top made in mid-December.

The advancing wave is, by the wave count shown during the past week, a C wave. According to Elliott wave principle a C wave is typically an impulse wave (such as we have in the chart) and, of course, the moving averages have reflected that, but the bullish configuration of price, its 20MA and 200MA now looks to have been a false signal (blue arrow).

Summary

Decline should now target the previous low near $365 and 2450 CNY. How the market negotiates this level will set the tone for the coming months. For now it looks like gold 1.0 is receiving all the adoration. Nevermind. Patience. Bitcoin’s day will come.

Bitfinex Depth Chart and Buy/Sell Volume

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Click here for the CCN.LA interactive bitcoin price chart.


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该日志由 goldcoin 于2016年02月12日发表在 行情 分类下, 你可以发表评论,并在保留原文地址及作者的情况下引用到你的网站或博客。
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