Bitcoin Price Meandering Above $450

Bitcoin Price Meandering Above $450

Bitcoin price meanders – seemingly without aim – as volume continues shrinking. Markets sometimes experience the doldrums and this seems to be it. Remain focused, however, since such periods typically precede sudden large moves.

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Bitcoin Price Analysis

Time of analysis: 13h00 UTC

Bitstamp 1-Hour Candle Chart


From the analysis pages of, earlier today:

Bitcoin price continues dithering above $450 (Bitstamp) as the larger timeframes (1-week, 1-day) lose upward momentum.

Price has spent the past 3 weeks contracting in range while forming higher lows and lower highs.

The long-term prospect remains for advance, and the intermediate outlook for decline to support – especially, given the slumping 1-day indicators.

In the meantime, we wait for the market to doodle out its lack of conviction between seemingly unsurmountable upside resistance at $470 and rising support now cutting through $450.



Read more ... source: TheBitcoinNews

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