Bitcoin price continues holding to sideways trade above 2900 CNY and $440.
Bitcoin Price Analysis
Time of analysis: 15h30 UTC
BTCC 1-Hour Chart
From the analysis pages of xbt.social, 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