Bitcoin Price Down: Bearish Overarching Momentum
It seems the bitcoin price is determined to give away some of the gains we saw in July, this month. We have noted 285 as a key resistance level a number of times this week already, and - having reached it and corrected from it two or three times on Monday/Tuesday, it now looks like we are in for some downside momentum before we reach it again. The bitcoin price declined throughout the majority of yesterday's session, and looks to have declined throughout the Asian session on Wednesday evening, so, as we head into Thursday, are overarching bias must be to the downside. With this said, what....
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In this morning's bitcoin price watch piece, we suggested that - if we could get a break above 285 (level we have watched as in term resistance from at least the last week) it would suggest that there could be some further bullish momentum in the bitcoin price as we headed into Friday and - beyond - the weekend. However, we also suggested that the overarching momentum was with the bears, and that during today's session if we broke to support, we would almost definitely see a continuation of the overarching bearish trend and get some fresh downside targets. As it turns out, the latter of....
Yesterday afternoon, we got a little bit of bullish momentum in the bitcoin price, during European session, and - in our twice-daily bitcoin price watch piece, we suggested that this upside momentum may spark the beginning of a longer-term reversal, and present us with some more solid bullish action as the week progressed. We highlighted a couple of levels would be keeping an eye on, and - now price has matured - we can see that while these levels held for a period, they have since broken and it looks as though - during today's session - we're going to get a return to the overarching....
So for today's Asian session bitcoin price watch, we are going to tighten things up a little. A look at the daily chart in the bitcoin price reveals a few straight weeks of overarching bullish momentum, and while we would love this momentum to continue from a long term capital gains on our holdings perspective, its made us a little wary. We are approaching $300 flat, having broken to the downside through $200 last month, and if there was ever a time for a medium term correction, now is it. This doesn't mean the overarching trend is likely to change - simply that we will probably get some....
Over the last week or so, we have seen some pretty volatile movement in the bitcoin price during the European session. The overarching momentum has been to the downside, and a couple of classical technical charting patterns have fueled the bears to bring us to this level at which we now trade. With all this said, looking at price action overnight on Thursday, are we likely to see a reversal of the overarching momentum as we head into the weekend, or will the bears remain in control throughout next week? Further to this, what are the key levels that we are watching in the bitcoin price to....
In today's early-morning bitcoin price watch piece, we highlighted the levels that we would be watching throughout the European session in order to help us dictate our entries and exits according to our intraday breakout strategy. As it turns out, we have had a pretty up-and-down day, but the range during the European session has not been that extensive. With this said, the overarching momentum suggests that we may see some action throughout the Asian session this evening, and - in turn - gives us some hope that we might be able to exercise our strategy and draw profit from the market from....