Saturday, December 10, 2016
Bitcoin Price Slowdown

Bitcoin Price Slowdown

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Bitcoin price continues trading above support as 4,000 CNY and $600 holds. Slowing price action implies an imminent ramp-up in volatility, yet technical analysis suggests traders wait for additional consolidation.

This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now.

Bitcoin Price Analysis

Time of analysis: 12h00 UTC Thursday

Bitstamp 1-Day Candle Chart

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From the analysis pages of xbt.social, earlier today:

A bullish price pattern in the 1hr chart may be setting up a surge, however, a look at the 1day chart (above) shows that the indicators are not typically aligned for a strong wave of advance.

Horizontal bars show the indicator configuration typically seen at the start of large waves of advance: price is above its 1day 200MA (red). Notice the position of MACD above its zero line in each case, as well as the

Read more ... source: TheBitcoinNews

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