Bitcoin Price Consolidating Again

Bitcoin Price Consolidating Again

Bitcoin price continues holding to sideways trade above 2900 CNY and $440.

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Bitcoin Price Analysis

Time of analysis: 15h30 UTC

BTCC 1-Hour Chart


From the analysis pages of, earlier today:

A quick look at the 1hr BTCC chart and we see the moving averages compressing in near-horizontal price action today.

MACD has settled on its zero line and RSI has sufficient divergence in both directions to allow a price wave to move some distance – either up or down.

The 4-hour and 1-day charts are technically bullish, but a reversal to the downside will quickly change that.

Until we see a price wave push to a new high, the resistance ceiling may continue to prevent advance. To the downside, if the market chooses it, there is a free-fall zone below $440 down to $400.


Not sure what to expect

Read more ... source: TheBitcoinNews


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