Bitcoin price climbed $6 in a quick move earlier today. Whatever price does between now and the looming decline is anyone’s guess.
Time of analysis: 14h00 UTC
From the analysis pages of xbt.social, earlier today:
Price climbed back above the 1hr 200MA and should now, conceivably, continue higher.
However, advance will be temporary, since the downside price pattern that started on the 27th of March remains incomplete.
The converging grey trendlines above and below price will continue to constrain the market’s range until an ecosystem event catalyzes a breakout.
Bitcoin price pushes higher to an unknown target. The move may re-attempt $430 or it may be over already. The market’s momentum is irratic and looks like its going to end badly for those buying into the reward-halving advance too early.
What do readers think? Please comment below.
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