Bitcoin Price Still Above Support

Bitcoin Price Still Above Support

Bitcoin price continues hovering around $415 and 2690 CNY. The chart’s technical conditions are primed for a break into either rally or decline.

This analysis is provided by with a 3-hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29.

Bitcoin Price Analysis

Time of analysis: 14h00 UTC

Bitstamp 1-Hour Chart


From the analysis pages of, earlier today:

The 1hr chart shows how, prior to the last advancing wave, price had traded above the 1-hour 200-period moving average (200MA, red). Currently, price is below this MA. The 1hr 200MA continues drawing horizontally.

The Stochastics (top) were descending from their upper maximum but have bounced (without price making a new low) and the stochastics look to be heading up again. Simultaneously, MACD trajectory looked to be pulling momentum below zero, but it had also bounced off its zero line. In the 15-minute chart (not shown) MACD compression implies that a

Read more ... source: TheBitcoinNews


Read previous post:
Bitcoin Price Finds Status Quo in $415 Range

Markets Weekly is a weekly column analyzing price movements in the global digital currency markets, and the technology's use case...