Bitcoin Price Analysis: Groundhog Day

Bitcoin Price Analysis: Groundhog Day

Bitcoin price pushed above $420 today and continues higher in a narrow channel of advance.

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Bitcoin Price Analysis

Time of analysis: 13h00 UTC

Bitstamp 1-Hour Chart


From the analysis pages of, earlier today:

Incredibly, yet another high for this wave.

Regardless of indicators at any timeframe and despite large sell orders above price nearly every step of the way, the persistent advance continues pushing higher. It is as if nothing can stop it.

If a trader takes profit based on overbought indicators, they will soon regret their prudence since their only option will be to rejoin the trend – into overbought MACD, RSI and stochastics.

While price holds within the advancing channel, the only option is to be bullish. Don’t read the chart indicators, don’t think about it, just buy. $10 a day for the

Read more ... source: TheBitcoinNews

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