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比特币交易保持直线 Bitcoin Trading Holding The Line

  • Bitcoin trading is holding to a straight and narrow price path. There have been no significant new highs or lows, and we wait for a more confident mood to set traders in a direction.

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 Trading and Price Analysis

Time of analysis: 14h30 UTC

BTCC 1-Hour Chart

Selection_20160104_002

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

The most obvious feature of the current chart is that trade is swinging price around the ascending red Fib line. Buyers have quickly pushed price above the Fib line on each occasion that it had fallen below.

If the bulls capitulate and buy price higher from its current position at the Fib line, then they will strengthen the chart for continuing advance. If price returns below the Fib line then we may be in for additional lows and a retest of $420 and 2715 CNY.

The move lower (since the 1st of January) was heralded by indications that announced the move: Volume in the 1hr chart was falling on each new high, and RSI (1hr) was similarly making lower highs on each new price high (regular divergence).

Today’s push higher shows reverse divergence in the 1hr RSI – price has only made a lower high but RSI had advanced to the level of the previous high (magenta annotation).

Let’s see what the market will do with price in relation to the red Fib line. Our Buy TR remains in Pending state until its conditions are fulfilled.

Summary

Price corrections, such as we’ve seen for the past two weeks, feature regular price reversals. Although the market is in a bullish mood, with participants buying in large amounts, confident and persistent buying is not manifesting in the market. Nervous profit-taking sets in on each attempt at a new high. The uncertainty is evident from the way the market is sticking to the red Fib line, discussed above, as if to a security blanket. Patience, a clear and unanimous signal will eventually become evident.

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.

from:https://www.cryptocoinsnews.com/bitcoin-trading-holding-the-line/

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该日志由 goldcoin 于2016年01月05日发表在 行情 分类下, 你可以发表评论,并在保留原文地址及作者的情况下引用到你的网站或博客。
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