The bitcoin price chart is becoming ambiguous as it approaches its first large move for the new year. Traders have been actively accumulating bitcoin, yet, regardless a potential sell signal is developing at the larger 4-hour timeframe.
Bitcoin Price Analysis
Time of analysis: 14h30 UTC
BTCC 4-Hour Chart
From the analysis pages of xbt.social, earlier today:
Today’s 15min chart (not shown) had seen price fall below its 200-period moving average (200MA). If the 20MA were to also cross below the 200MA we’d have a potential sell signal in the 15min chart.
The 4hr chart (above) is a timeframe we have not looked at for over a week and it has a few interesting features:
1) the 4hr 200MA has been supporting price since the late-December low.
2) the 20MA and 200MA are in close proximity.
3) If price pulls below