Bitcoin price continues making controlled price wave around $360 as wider markets are swinging from this week’s price extremes.
Bitcoin Price Analysis
Time of analysis: 14h30 UTC
BTCC 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
The 1-hour chart has no specific signals – as has often been the case during the past few weeks. The implication is that the present price move is not a major price wave.
The 15-minute chart is signaling price moves more frequently, but today’s indicator conditions are mild and do not show strong bias in any direction.
As if to confirm the changeability of the current chart, the 5-min timeframe showed a sell signal, earlier today, but price had halted quickly and turned back to the upside.
The wave formation to the downside, since yesterday’s high seems incomplete, but this may be an indication that price is consolidating at current levels – perhaps building a base.
Bitcoin seems to be holding steady amidst swinging global markets. If it can maintain this course through the coming rates hike, the super-commodity should continue drawing investors into a strong 2016 price advance.
Bitfinex Depth Chart and Buy/Sell Volume
What do readers think? Please comment below.
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Bitcoin price charts from TradingView.
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