A Flat Bitcoin Market
The weekly candle close was not very exciting. For the past weeks we've seen very little price movement. I'm sure newbie / short time-frame traders are impatiently jumping into trades with each 15-minute 'bull run' only to be squashed by the 4-hour time-frame.
Unless you have a highly reliable automated algo signals bot trading on your behalf such as we use at SparksterSignals, it may be best to wait for higher time-frame confirmation once the market decides on a bigger move in either direction.
MACD on the weekly time-frame is pushing down, other indicators such as RSI and Ichimoku are essentially flat-lined. Price is inside the cloud which also indicates no clear direction. Higher time-frames like 2 week and monthly show a small amount of upwards momentum.
The calm before the storm.
Unless you have a highly reliable automated algo signals bot trading on your behalf such as we use at SparksterSignals, it may be best to wait for higher time-frame confirmation once the market decides on a bigger move in either direction.
MACD on the weekly time-frame is pushing down, other indicators such as RSI and Ichimoku are essentially flat-lined. Price is inside the cloud which also indicates no clear direction. Higher time-frames like 2 week and monthly show a small amount of upwards momentum.
The calm before the storm.
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