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The bitcoin cost draft has been whip-sawing as buyers energetically expect a subsequent advance, while profit-takers yield on any proceed of $780 (Bitstamp). Technical research finds a repeating settlement and a intensity outcome.
Bitcoin Price Analysis
Time of analysis: 15h00 UTC
Bitfinex BTC/USD 1-Hour Candle Chart
From a research pages of xbt.social, progressing today:
The 1hr candle Bitfinex draft illustrates a energetic of cost converging and MACD compression. MACD application is clear from a Bollinger Bands.
As annotated in a chart, a Bollinger Bands agreement around MACD as cost consolidates into a squeezing range. Although MACD tends towards a 0 line during cost converging (decreasing volatility), we can see that during a rally,