Bitcoin Price Analysis: Walking Blues

Bitcoin Price Analysis: Walking Blues

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Bitcoin price is setting up for advance but the consolidation process appears incomplete. A large wave of advance into the final months of 2016 is building pressure.

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Bitcoin Price Analysis

Time of analysis: 12h00 UTC Friday

BTCC 1-Day Candle Chart


From the analysis pages of, earlier today:

The 1day chart confirms that the indicators are setting up for a strong wave of advance.

MACD holds above zero and price holds above its 200MA – both bullish signals.

For there to be confidence of advance the 1day stochastics (at least the two fastest lines, top) should first group at their minimum prior to a rally.

Such a grouping seems likely within a few days to a week. If price drops lower it will speed up the stochastic grouping,

Read more ... source: TheBitcoinNews

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