Bitcoin Price On The Straight And Narrow

Bitcoin price is giving clear signals in the chart and its indicators. For the time being we can predict, with some confidence, that price will most definitely be traveling due east.

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Bitcoin Price Analysis

Time of analysis: 16h06 UTC

OKCoin 3Mth Forward 4-Hour Chart

OKCoin 4-Hour Chart

From the analysis pages of, earlier today:

This morning’s general assessment of Bitcoin ecosystem mood, and by extension the mood of the market, gives a bearish bias to the chart. The 4-hour timeframe shows the MAs hanging heavily over price – and trade has not been willing or able to climb through those decompressed MAs as it usually does after a decline.

The sense is that price may head lower, or at least, head sideways in the meantime.

An indicator anomaly can be seen in the stochastics (top) where blue downside divergence dots are appearing at the top of the indicator panel. This is not normal and usually (but not always) heralds a drop

Read more ... source: CryptoCoinsNews