![]() ![]() ![]() Let’s examine the 4 hour BTCUSD chart from Bitfinex, while keeping the Fibonacci retracement we plotted during our analysis on September 6th, 2017, and plotting the Williams Alligator, Bollinger bands and MACD indicator (look at the below chart). So, will bitcoin price continue rising or will the new upward trend be reversed shortly?Ī New 5 Wave Elliott Formation Evident on the 4 Hour BTCUSD Chart: ![]() Thursday trading sessions witnessed a 24 hour trading volume of around 40.5 K bitcoins (as shown on the below trading volume chart from ) a level that hasn’t been reached since the 22nd of May, 2017. After dropping down to a week low of around $3,004 last Friday, the bearish wave, that has been reigning the market since the beginning of September, was reversed and bitcoin price rose up to $3,961 at the time of writing of this analysis. ![]()
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