Bitcoin Price Could Be Preparing For Fresh Wave Of Volatility — Here’s Why
The Bitcoin price action over the weekend has been quite sluggish, reflecting the indecision and fatigue seemingly hovering over the cryptocurrency market at the moment. After a dour performance during the week, the premier cryptocurrency has continued to trade within the $92,000 – $95,000 range on Saturday, May 17. With the choppy price action, doubt about the Bitcoin price reclaiming its all-time high of $108,786 is starting to creep in. However, the latest on-chain data suggests that the market leader could be gearing up for significant price movements over the next few weeks.....
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Here’s what we are focusing on for this evening's session in the bitcoin price. Action in the bitcoin price has matured across the European session, and hasn’t quite played out in our favor. That is, at least, from a long term holding perspective. Shorter term, we saw a decent amount of volatility, and managed to get in to a trade according to our predefined breakout strategy a little earlier on this afternoon. That position has now closed, and with it, the European session is about to draw to a concurrent close. So as we head into a fresh afternoon out of the US, and as action matures....
Here's what we are focusing on this morning in the bitcoin price. In last night’s bitcoin price watch analysis piece, we highlighted a range that was quite a lot wider than those we have looked at across the last few weeks. This was in response to the volatility we saw over the weekend, and the opportunity this afforded us for an intra-range approach, rather than just our standard breakout strategy. Overnight, action didn’t mimic the volatility that we saw on Sunday, and pretty much just trended within the range we had predefined. Admittedly, it was a wide range, so it was optimistic to....
It’s getting to the end of the week, and so far we’ve had plenty to talk about as far as action in the bitcoin price is concerned. Volatility has dominated momentum, and we’ve seen some pretty sharp movements no relatively high volume. This may be because of the underlying fundamentals – the debate as to the identity of Satoshi has catalyzed a breaking through of bitcoin to mainstream media once again – and the added attention has created brought in speculative buyers and sellers. Regardless, our intraday price strategy is in place t8o take advantage of any movement, in either direction.....