Posted in: Archive
Published:
May 15, 2015 7:39 PM UTC

Bitcoin Price More Volatile, Changeable

Recent market action has been unpredictable, and it is becoming increasingly volatile. More frequent periods of apparent calm, horizontal price action culminate in short sharp price spikes. The condition reminds of the quote by George Soros: "Volatility is greatest at turning points, diminishing as a…

Recent market action has been unpredictable, and it is becoming increasingly volatile. More frequent periods of apparent calm, horizontal price action culminate in short sharp price spikes. The condition reminds of the quote by George Soros: “Volatility is greatest at turning points, diminishing as a new trend becomes established.”

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Bitcoin Price Analysis


Time of analysis: 16h24 UTC

Bitfinex 15-Minute Chart

Why The Preference For BTC-China Charts In Analysis?

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

The recent uptick in volatility is not much when compared to what has been witnessed in the Bitcoin chart in the past. Relative to the miniscule price waves we’ve seen during the past two months, a $10 move is strong stuff, and in a corrective/consolidative market phase it results in the chaotic price action we are experiencing. The market is in flux – changing from downtrend to uptrend.

We have to remain patient until this phase passes. It may take weeks. A tactic for dealing with current price action may be to adapt our method since our (xbt.social) trading method is good for trending and breaking price moves. But then, what method is there for changeable and unpredictable price action? A look at the US Dollar Index, over the weekend, will shed some light.

CoinCompetition

No change in the top three positions as Fijibound stays in cash, and Diabolicus and bitmaster30 hold full trade positions.

Camille has an interesting balance of BTC and USD in his cash position – wonder if that’s an oversight or intentional? There is, of course, no magic mix of the two and straight-up, unleveraged bitcoin traders flip between the two as a matter of course.

Whatever transpires next in the Bitcoin price chart next, is going to rearrange the leaderboard. Good luck to the competitors and all traders with the coming market phase.

You can pretend to be serious; you can’t pretend to be witty. – Sasha Giutry

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Summary

For now, based on our analysis, we expect choppy price waves to continue winding tighter. We can see a structure in the chart that seems to be setting up for a move. We have a stop loss (known risk) in place, and we proceed according to our view that a larger market consolidation is in progress.

Bitfinex order book depth and Buy/Sell volume is even-keeled:

Click here for the CCN interactive 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.

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Disclaimer

The writer trades Bitcoin. Trade and Investment is risky. CCN accepts no liability for losses incurred as a result of anything written in this Bitcoin price analysis report.

Bitcoin price charts from TradingView.
Images from Shutterstock.

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Last modified: January 25, 2020 11:06 PM UTC

Venzen Khaosan @venzen

Market analyst and Open source developer with a keen interest in blockchain technology, consensus mechanisms and the decentralizing effect. He has found a solution to the PKI mechanism. Email me to discuss.

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