Bitcoin price action has been slow during quiet Sunday trade. The bears continue preferring to place orders below price, rather than pro-actively trading the market. Upside is becoming strained but may continue grinding higher until more participation, on Monday, capitulates the bearish chart technicals.
Bitcoin Price Analysis
Time of analysis: 15h00 UTC
Bitstamp 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
The different exchange charts are starting to diverge in their alignments and indications. The Bitstamp chart is not as bearish as the CNY charts and others, so let’s read it:
The 1hr chart shows that the stochastics have now grouped at their upper extreme. MACD has not yet touched its upper Bollinger Band and RSI has not yet convincingly diverged to the previous highs, as illustrated with a blue arrow