Bitcoin Price May Fall Through The Line

Bitcoin Price May Fall Through The Line

The bitcoin price chart is becoming ambiguous as it approaches its first large move for the new year. Traders have been actively accumulating bitcoin, yet, regardless a potential sell signal is developing at the larger 4-hour timeframe. It would be a disappointment to see price fall back into decline at the beginning of the year. Although there is no current 4hr chart sell signal, a 20MA and 200MA cross-over at this timeframe has rarely failed to see the market capitulate. Should a sell signal occur then the initial target should be the previous low at $410 and 2550 CNY.


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