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Bitcoin Price Up And Down

Bitcoin price climbed $6 in a quick move earlier today. Whatever price does between now and the looming decline is anyone’s guess.


This analysis is provided by xbt.social 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

OKCoin BTC/USD 1-Hour Chart

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

Price climbed back above the 1hr 200MA and should now, conceivably, continue higher.

However, advance will be temporary, since the downside price pattern that started on the 27th of March remains incomplete.

The converging grey trendlines above and below price will continue to constrain the market’s range until an ecosystem event catalyzes a breakout.

Summary

Bitcoin price pushes higher to an unknown target. The move may re-attempt $430 or it may be over already. The market’s momentum is irratic and looks like its going to end badly for those buying into the reward-halving advance too early.

Bitfinex Depth Chart and Buy/Sell Volume

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Click here for the CCN.LA interactive bitcoin-price chart.

What do readers think? Please comment below.

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

Readers can follow Bitcoin price analysis updates every day on CCN.LA. A Global Economic Outlook report is published every Monday.

Disclaimer

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.

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