Bitcoin Trade Waiting For Market Direction

Bitcoin trade bought price up from a low of $272 and 1660 CNY yesterday. At the current level near $280 and 1720 CNY price is in an indeterminable state of trend. Analysis looks for direction and an action plan for taking a position in the market.

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Bitcoin Price Analysis

Time of analysis: 05h52 UTC

Bitfinex 4-Hour Chart

Bitfinex 4-Hour Chart

From the analysis pages of, earlier today:

Price has bounced from the low and maintains altitude.

The 4-hour Bitfinex chart shows price in an awkward “hanging” state – above the red 200MA (longer-term bullish), but below the green 20MA (short-term bearish).

The MACD indicator (bottom) had formed reverse divergence to the very bottom of the previous low and this is, typically, a sign that reversal to the upside is due. RSI (second panel from

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