Bitcoin Price Advances, Tiring Legs Overdue
The bitcoin price advance of the past few weeks has been as relentless as it has been vexing. I must confess I have been stymied and surprised by the inexorable strength of this advance off the 750 low. However, all advances must end sooner or later. This begs the question: when? Even a novice Elliott Wave reader can see that there were (2) 5 waves completed at the 1080 high. That was also the place where the 2nd arc of the 4th pair stopped the rally. Well, it turns out that as of this very moment, pricetime has again met the very same arc that stopped the last rally. Will it get through....
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Bitcoin price advance accelerated today and pushed to $400 (Bitstamp) and 2740 CNY. Although a price correction is overdue, the advance is relentless. Pushing above the significant resistance identified in yesterday’s analysis, the price pattern’s wave count has been revised from an ABCDE structure to a simpler ABC correction. The OKCoin BTC/CNY chart shows the contradictory signals that have characterized the past two weeks: 1) The last wave top has hit multiple Fib extension targets – this implies that a deeper correction (or reversal) should now set in. 2) The fact that the advance has....
It was just several days ago we reported on an issue some Circle Internet Financial users were experiencing. If you're not up to date, here's how it went. Some users of the new service (which is in invitation-mode only at the moment) had reported being charged fees by their financial institutions for taking out cash advances, when in actuality they were just buying bitcoin at Circle. Those cash advances come with hefty fees, and Circle previously made the following statement: We've become aware that some credit card issuing banks are erroneously processing settlements as cash advances. It....
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