Bitcoin price has traded sideways for three days and according to the bitcoin chart’s average true range, a tipping point is in sight.
Bitcoin Price Analysis
Time of analysis: 14h30 UTC
OKCoin 3Mth 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
No substantial change from yesterday, and the 1hr chart continues conforming to the indicator and MA conditions at the previous juncture circled in the chart.
One concern is that the 4hr 200MA is losing altitude – something it has not done for more than two months. This fact introduces some doubt as to what signal we’re going to get once this sideways correction ends – will it be a buy or sell signal?
Another wave to the upside would look right in the chart, and the Average True Range (ATR) indicator (bottom)