Bitcoin Tightening Pattern

Bitcoin continues to reject from the 12 and 26 exponential moving averages as well as the middle bollinger band as the price gets tighter and tighter and volume declines. We will anticipate a break from this tightening pattern later tonight or tomorrow. Bulls and bears are both playing the equilibrium patter at the moment moving stop losses as the price gets tighter and tighter. The lack of volume currently does not favor day trades. Patiently waiting for the tightening pattern to break to strike.

4 Hour Chart: