Bitcoin Price On Holiday

Bitcoin Price On Holiday

Bitcoin price found support at $430 (Bitstamp) and 2875 CNY during the past two days. Price action remains directionless with eager profit taking on any move higher, and yet, buyers have prevented a new low in the chart.

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Bitcoin Price Analysis

Time of analysis: 14h00 UTC

BTCC 15-Minute Chart


From the analysis pages of, earlier today:

We have a potential bullish chart condition: a 15-minute buy signal is forming, and the 1-hour chart is advancing too.

But even so, the current chart does not inspire confidence: a new high has yet to print, and sellers continue placing large profit-taking orders just above the current area of price action.

Despite a 15-minute buy signal, the indicators at the 1-hour timeframes are overbought. We’ve had successful trades throughout November and December and the prudent approach, at this time, could be caution of over-milking the cash cow.

The risk, as always, is that a rally ignites in the bitcoin chart. Given the thin, illiquid holiday market

Read more ... source: TheBitcoinNews

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