Bitcoin Price Squeeze Into Decision-Time

Bitcoin Price Squeeze Into Decision-Time

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Bitcoin price is trading into a narrowing range and the market will soon be forced to choose a direction. Upside options are limited while the long-term indicators return to neutral, and if the outcome is decline, it will hopefully be contained above $500.

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Bitcoin Price Analysis

Time of analysis: 15h00 UTC

Bitstamp 1-Hour Candle Chart


From the analysis pages of, earlier today:

1-Hour MACD (panel above price) is consolidating to zero with its Bollinger Bands contracting, indicating the low volatility quiet that usually precedes a directional price move.

Price has held below the 1-hour candle chart’s 200MA (red) since coming down from the rally top. During the past day the market has

Read more ... source: TheBitcoinNews

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