Bitcoin Price Analysis: Quiet Trade Above $450

Bitcoin Price Analysis: Quiet Trade Above $450

Bitcoin price has not made any significant move during quiet Saturday trade. The start of day in the US may change that, but for now it looks like continuing inaction will be the prospect.

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Bitcoin Price Analysis

Time of analysis: 14h00 UTC

Bitstamp 1-Hour Candle Chart


From the analysis pages of, earlier today:

A quiet day in the bitcoin price chart as price sticks close to the 200-hour moving average.

Low volume trade keeps price within the constraints of the converging support near $449 (Bitstamp) and the horizontal resistance zone between $462 and $470.

The recommendation remains that traders and investors wait for price to establish above the red resistance zone before committing to buy positions. Similarly, if price breaks below the rising trendline, there may be an opportunity to buy bitcoin at support levels

Read more ... source: TheBitcoinNews

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