Bitcoin Price Reattempts $400
Bitcoin price found support at the base of the previous advance and surged to the upside during Sunday trade. Bitcoin price formed a typical base for advance above the support layer near $380 and 2500 CNY. By 08h00 UTC the range of price movement had compressed and MACD (top) had consolidated to its zero line as it usually does prior to a surge. The break to the upside quickly caused 1-hour RSI to reverse diverge to the previous wave top (magenta annotation) and this has forced a correction at the 1.618 Fib extension (not shown) of the base wave. Once the correction has played out, we’d....
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