Bitcoin Trading More Active But Going Nowhere

Bitcoin trading has picked up the pace as price moves more urgently around the chart, yet, in a smaller range.

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Bitcoin Price Analysis

Time of analysis: 15h27 UTC

OKCoin 3Month Forward 15-Minute Chart

OKCoin 15-Minute Chart

From the analysis pages of, earlier today:

Price activitiy is increasing but the range of motion has decreased during the past ten days.

There is no sure sign in the chart of any specific directional move that is due: in one sense the current pattern resembles a consolidation prior to advance; in another sense, we might be looking at the initial stages of decline in a wave that could target below the support floor near $200.

In these ranging, directionless conditions it is most prudent to stay out of the market. What looks like imminent upside now will most certainly look to be heading down a few hours later.

The best time to position is when price is already trending or gives signals that it

Read more ... source: CryptoCoinsNews