There is still very little to deduce from the bitcoin price chart. Whether looked at in the larger or smaller timeframes, there are no definite signals to trade.
Bitcoin Price Analysis
Time of analysis: 13h00 UTC
Bitfinex 15-Minute Chart
From the analysis pages of xbt.social, earlier today:
The 15-minute chart moving averages are in disarray and the technical indicators hardly provide profitable signals. For example, the stochastics (second from top) signal a large number of conflicting divergence signals – but how to discern which one is a reliable entry signal? Some precede medium range moves, others – accompanied by MA cross-overs – result in tiny moves.
The overall impression is that the market sentiment is in flux. The orderbook weighting changes regularly. Sometimes there are large numbers of buy orders below price, and at other times the