BITCOIN PRICE STAGNATING OR CONSOLIDATING FOR A BREAK OUT?

Yesterday, the Bitcoin price hit target, to the pip, at $465.00 on the Bitstamp chart. Despite good news from many continents that show continued growth in Bitcoin, the price continues to stagnate. As always, Bitcoin’s position in the world is constantly changing. Analysis considers the possibilities at mid-month as we go into the weekend.
Bitcoin Price Targets
For two weeks running, price has been hitting 1.618 extension targets in an alternating upside-downside pattern. The Bitstamp chart below shows the progression.

This post was published at Crypto Coins News on 12/09/2014.