|$BTC Price Change|
This is a reminder that Bitfinex will be going offline for up to 7 hours on January 7th as we migrate to a self-designed, dedicated infrastructure optimised for cryptocurrency trading. Please refer to last week’s announcement for more information: https://t.co/uzeW1rSUZl
— Bitfinex (@bitfinex) January 2, 2019
— Weiss Ratings (@WeissRatings) January 2, 2019
The Bitcoin weekly trend is sideways. We’ve seen only a marginal 1.36% price increase over the last seven days.
[Trend is "sideways" when there is no clear weekly price movement in any direction.]
Real Time Market Depth
[The real time market depth is a fractional representation of the order book, used to assist in determining market direction.]
Tap / click to zoom:
With last night’s EMA bull cross noted below, price soared as high as $3865.72 with the technical trigger – before easing off, and climbing back to the report generation last price of $3828.95.
The one month loss of -8.64% or $-362.03 is a reminder of the current bear market. There appears to be bullish optimism in the shorter period charts, driven in part by transient technical indicators.
The RSI (one hour) is very close to over bought, suggesting a price fall is imminent.
Moving Average Convergence Divergence (MACD)
The MACD on the four hour chart is bullish. The last consecutive seven 4 hour sessions have all been slight to moderate bullish sessions. The last session is the strongest.
Exponential Moving Averages (EMA)
At 8pm last night on January 01 2019 (four hour chart) bitcoin made a bull cross of both the medium and long term EMA. This is a bullish state.
Relative Strength Index (RSI)
The Relative Strength Index on the one hour chart is 67.3. This is a neutral state.
This indicator is very close to an over bought condition.
Bitcoin $BTC Price Outlook
- the Bitcoin $BTC price outlook is neutral to slightly bearish
- if the price finds acceptance at higher levels the major resistance prints at $3865.72
- if the price finds acceptance at lower levels the major support prints at $3772
Analysis Duration: four hours
This report is for a short term duration of four hours. Analysis is time sensitive.
The author holds Bitcoin $BTC at the time of writing.
Use the new KittyBitcoin feed URL page at: http://kittybitcoin.com/docs/feeds.php
KittyBitcoin media is licensed not sold. Copyright©KittyBitcoin.com 2019. All rights reserved.