Another bitcoin price advance and another successful trade concluded a few hours before this article’s publication. Sometimes the simplest indicators yield the easiest intra-day profit while co-located, on-site, algorithm-fuming, HFT bots squeeze little out of the apparently unorthodox bitcoin market.
Bitcoin Price Analysis
Time of analysis: 14h30 UTC
Bitstamp 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
xbt.social concluded another successful trade earlier – the second for this advance – and not the last.
The bulls had busted their guts today, trading several hundreds of thousands of bitcoins to achieve a $20 rise amidst heavy profit-taking at the $380 and 2470 CNY level.
xbt.social members only traded four times – at the bottom of the magenta rectangles, and at the top.
The profit-taking areas at the top of said rectangles, were neither preconceived nor anticipated – the benefit of a quantifiable trading method that reacts to chart signals, and chart signals only.
If you’re interested in receiving these kind of trade signals then sign up for xbt.social membership and join xbt.social in trading the next signaled price move.
Sometimes it just has to be said, plainly, that the market is unpredictable. Gambling on hopes and anticipated price movements is often unsuccessful. Coding and training bots to remove the fallible and ill-disciplined human element, is hard work and rarely transcendent. xbt.social trade recommendations will generate your monthly subscription fee, and more, within a week or two. Try it.
Bitfinex Depth Chart and Buy/Sell Volume
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Readers can follow Bitcoin price analysis updates every day on CCN.LA. A Global Economic Outlook report is published every Monday.
The writer trades Bitcoin. Trade and Investment is risky. CCN.LA accepts no liability for losses incurred as a result of anything written in this Bitcoin price analysis report.
Bitcoin price charts from TradingView.
Image from Shutterstock.