BTC/USD Technical Analysis – 27th Feb 2014
Analysis provided by Ashton Fraser, learn more about his Forex Reversals trading strategies.
Let’s take a look at the BTC/USD hourly chart below (click to expand)
I’ve done the Fibonacci study from the low at 430 to yesterday’s high at 590.
Right now, we can see exactly what price is doing – meandering along the 23.6% fib retracement level. Clearly, a period of consolidation has been reached. From the H1 chart above, it’s frankly difficult to tell what price will do next, as the technical are pretty conflicting.
Actually, what I’d expect is for this current wandering to continue for the rest of the day, with price bouncing between 530 and 580. Right now it’s at the very edge of the lower Bollinger band; the Stochastic is approaching oversold territory, and the Accelerator Accelerator An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he Read this Term Oscillator has turned green. Most importantly however, it’s sticking to the 23.6% Fib level at 533.
In addition, the last few candles have had large wicks on both sides of the body, further indicating indecision at this current moment in time.
Analysis provided by Ashton Fraser, learn more about his Forex Reversals trading strategies.
Let’s take a look at the BTC/USD hourly chart below (click to expand)
I’ve done the Fibonacci study from the low at 430 to yesterday’s high at 590.
Right now, we can see exactly what price is doing – meandering along the 23.6% fib retracement level. Clearly, a period of consolidation has been reached. From the H1 chart above, it’s frankly difficult to tell what price will do next, as the technical are pretty conflicting.
Actually, what I’d expect is for this current wandering to continue for the rest of the day, with price bouncing between 530 and 580. Right now it’s at the very edge of the lower Bollinger band; the Stochastic is approaching oversold territory, and the Accelerator Accelerator An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he Read this Term Oscillator has turned green. Most importantly however, it’s sticking to the 23.6% Fib level at 533.
In addition, the last few candles have had large wicks on both sides of the body, further indicating indecision at this current moment in time.