Bitcoin Price Holding Steady

Bitcoin price has been locked in a sideways course for the past week. We wait for a decisive move in one direction or the other to give more insight into the current price pattern.

This analysis is provided by with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29.

Bitcoin Price Analysis

Time of analysis: 14h04 UTC

Bitstamp 1-Week Chart

Bitstamp 1-Week Chart

From the analysis pages of, earlier today:

Slow price action for the past week and let’s take a step back and look at the 1-week chart.

The recent high near $320 had caused reverse divergence to a Juanuary 2014 high. Hence, the subsequent downside was severe and we currently see price below both the 1w 20MA and 200MA.

The fact that the RSI reverse divergence, mentioned above, had pushed to such a significant high means that subsequent advancing waves will have more clear air to attain altitude in the chart.

We also see a blue-dot divergence indication in the stochastics (top) – implying that price is making downside with difficulty. However, let’s keep that indication

Read more ... source: CryptoCoinsNews