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Bitcoin price continues teetering on the edge of a precipice. A valiant effort to escape gravity, late on Sunday, has only seen price slump back toward $650. Unless the buyers capitulate, a large decline seems inevitable.

This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. If you are new to trading or unfamiliar with the concepts and analysis tools used below, subscribe to xbt.social to learn the ropes.

Bitcoin Price Analysis

Time of analysis: 15h00 UTC

Bitstamp 1-Hour and 1-Day Candle Charts

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From the analysis pages of xbt.social, earlier today:

An ABC corrective pattern was anticipated in yesterday’s analysis:

If this wave count is correct, then we’d expect the wave C to target the 1.618 Fib extension of wave A at $664. This will also be the approximate level of the 1hr 200MA, as well as a 50% retracement of the decline…



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