Bitcoin Price Direction Undecided

Bitcoin Price Direction Undecided

Bitcoin price is winding sideways for a second day. Supposedly neutral GDP and Production data out of China failed to catalize a market move earlier today.

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Bitcoin Price Analysis

Time of analysis: 13h00 UTC

OKCoin 3Months 4-Hour Chart

Selection_20160119_003

From the analysis pages of xbt.social, earlier today:

China GDP and Production data came in close to expectation at 02h00 UTC this morning.

China GDP q/y (actual: 6.8% expected: 6.9% previous: 6.9%)

China Industrial Production y/y (actual: 5.9% expected: 6.0% previous: 6.2%)

Global markets were awaiting the data release with great anticipation, since negative figures from China would have provided the catalyst for selling in the current season of Financial Meltdown glut. But the data (most likely cooked) did not provide the market with an excuse to rout stocks, nor did it send the BTC/CNY exchanges into

Read more ... source: TheBitcoinNews

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