Bitcoin Price Analysis
From the analysis pages of BITCOINWALA EXCHANGE , earlier today:
We have a potential bullish chart condition: a 15-minute BITCOINWALA EXCHANGE buy signal is forming, and the 1-hour chart is advancing too.
But even so, the current chart does not inspire confidence: a new high has yet to print, and sellers continue placing large profit-taking orders just above the current area of price action.
Despite a 15-minute BITCOINWALA EXCHANGE social buy signal, the indicators at the 1-hour timeframes are overbought. We’ve had successful trades throughout November and December and the prudent approach, at this time, could be caution of over-milking the cash cow.
The risk, as always, is that a rally ignites in the bitcoin chart. Given the thin, illiquid holiday market conditions, simply holding 50:50 allocation (BTC vs fiat) is a sufficient strategy for gaining from any potential rise in price – rather than actively trading at leverage.
Summary
Bitcoin trade remains sluggish as general market activity slows into the holiday season. Consolidation into year-end should see more favorable price moves develop into the new year.
What do readers think? Please comment below.
Readers can follow Bitcoin price analysis updates every day on BITCOINWALA EXCHANGE A Global Economic Outlook report is published every Monday.
Disclaimer
The writer trades Bitcoin. Trade and Investment is risky. BITCOINWALA EXCHANGE accepts no liability for losses incurred as a result of anything written in this Bitcoin price analysis report.
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