Bitcoin technical analysis: What does the consolidation tell traders in Bitcoin? - ConsultFX

Bitcoin technical analysis: What does the consolidation tell traders in Bitcoin?

Floor at $16,298. Ceiling at $17,578.   The price of bitcoin is waffling back and forth as the consolidation at record high levels continues.  Looking at the 5 minute chart above, there is a high ceiling at $17,578 (see red numbered circles), and a lower floor at the $16.296 level (see green numbered circles).  Copyright 2015 Forexlive.com