Bitcoin Price Pop And Fizzle

Bitcoin Price Pop And Fizzle

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Bitcoin price pushed through an important trendline intersection yesterday but launchpad staff had failed to fuel the tanks. A pop and fizzle is all we got. Traders can sheath their arrows until the next chart signal.

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Bitcoin Price Analysis

Time of analysis: 15h00 UTC

Bitstamp 1-Hour Candle Chart


From the analysis pages of, earlier today:

The halving event had created a sense of optimism that price would rally, and when price pushed above a upside constraining trendline, yesterday, it seemed a new wave to the previous high would erupt. However, all the market could manage was a fake-out to the upside.

The chart technicals were bullish yesterday, but have now lost strength and the outlook, therefore, is for ongoing consolidation.

RSI had exceeded a previous high (magenta arrow) while price only made a lower high (reverse divergence) and MACD had turned down from its upper Bollinger Band as price fell away from

Read more ... source: TheBitcoinNews

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