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Topic: [2016-06-19] Bitcoin Price Analysis - Holding Steady (Read 288 times)

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The 1hr candle Bitfinex chart illustrates the dynamic of price consolidation and MACD compression. MACD compression is evident from its Bollinger Bands.

As annotated in the chart, the Bollinger Bands contract around MACD as price consolidates into a narrowing range. Although MACD tends towards its zero line during price consolidation (decreasing volatility), we can see that during a rally, MACD may fail to reach zero and tend toward its lower Bollinger Band instead. Once sufficient pressure has built up, price will then launch into a wave of advance.

https://www.cryptocoinsnews.com/bitcoin-price-analysis-holding-steady/
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