Bitcoin [BTC] Analysis: Price Consolidates as Traders Show Uncertainty

2019-1-23 18:59

Bitcoin Daily Chart  – Source: Tradingview.com

The price of Bitcoin has been consolidating today around an important liquidity point. The daily candle is forming a Doji candle as a result.

A Doji candle is a candle that has the open and closes around the same point.

A Doji typically reflects uncertainty from the side of traders.

With price after trading above and below key point since Saturday, traders are likely unsure of where price is likely headed from here.

Price traded above $3684 on Saturday which was a key resistance point.

Many traders had bullish outlooks once price action overcame this point, but price failed to close above on the daily.

Price followed up with a bearish crash on Sunday which met support at last weeks low of $3476.

The price dropped below this point in yesterdays price action to record a weekly low of $3401.

Bitcoin Hourly Chart – Source: Tradingview.com

Price quickly recovered after forming the low at $3401.

It has since been trading around an important liquidity point $3575.

$3575 was a point where price found buyer liquidity during Sunday’s crash.

Overall the outlook is neutral as price continues to consolidate around $3575.

The Doji forming on the daily further supports a neutral outlook.

Key Takeaways: Price has been both above and below key levels since Saturday. Price action on the daily is currently forming a Doji reflecting uncertainty from traders. Price is currently consolidating around $3575, a point where price found buyer liquidity during a bearish crash which took place on Sunday. Latest Bitcoin News:

Bitcoin: Bullish Price Movements for BTC After Brief Drop

Bitcoin [BTC]’s Price Approaches Oversold Territory, a Short-term Rally Could Be Ahead

DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

Bitcoin [BTC] Analysis: Price Consolidates as Traders Show Uncertainty was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

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candle price bitcoin uncertainty doji traders consolidates

Источник: blokt.com

candle price → Результатов: 126


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