Bitcoin cost has spent another day in a closeness of a converging focus turn of $640 (Bitstamp). Consolidation leads to break-out, though traders are suggested to mind a probability of a fake-out.
Bitcoin Price Analysis
Time of analysis: 13h00 UTC
Bitstamp 1-Hour Candle Chart
From a research pages of xbt.social, progressing today:
The plane magenta line shows a $640 (Bitstamp) turn around that cost has been oscillating for a past dual weeks. Any pierce next is fast bought behind adult to $640 and any allege above, eventually returned to this level. Even a downward spike, a few blocks before a halving event, had targeted $640 – overshot and snapped behind to it.
At a time of writing, cost is only $640, next a 1hr 200MA (red) and, according to a stochastics (top), still declining. A demeanour during a MACD indicator shows Bollinger Band application and reveals a consolidating energetic of cost action.