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Regular divergence can be seen setting in on the MACD indicator (bottom pane). This is to be expected from a strong trend, yet alerts us to be on the lookout for a wave ending and the correction that will set up the final wave for this leg of advance. Bitcoin price is climbing toward $260 (Bitfinex, BTCe) and $277 (Bitstamp) and 1,550 CNY (BTC-China) in wave action that is typical of this price chart’s advancing mode.
Once the target is hit, we can reassess the next move. An intermediate correction is expected in the meantime – either near the $260 price level or else near $240 prior to the final wave to target. Watch your 15-minute RSI indicator for divergence to anticipate approaching wave tops.
Topic: [2015-01-23] Market Trading Back Bitcoin Value (Read 542 times)
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