Bitcoin Price Coiling Up Tighter

Bitcoin price is maintaining an east-bound course as we start counting weeks and not days in this nondescript pattern.

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Bitcoin Price Analysis

Time of analysis: 15h32 UTC

OKCoin 15-Minute Chart

OKCoin 15-Minute Chart

From the analysis pages of, earlier today:

A quick glance at the 15-minute chart, above, shows the narrow price range and flat trading conditions.

One scenario, as discussed during the past week-and-a-half, is that price just keels over and continues downward. Another scenario that we should bear in mind can be found in the historic chart in late-February when price made a similar pattern and then advanced step-wise for almost a hundred dollar distance.

There is not much we can do other than keep the ascending and declining scenarios in mind for now. It does not seem likely that bitcoin is going to make a major move just yet – the market seems confused and pulled this way and that by indecision and uncertainty. We act on a signal when

Read more ... source: CryptoCoinsNews