Bitcoin Price Technical Analysis - Intraday - 12/03/2015: Conflicting Bias

Early on Wednesday morning, we published an analysis piece that outlined a potentially bearish bias in the bitcoin price as we head into the European session. The bias derived from the decline we saw in the bitcoin price throughout Tuesday night and into Wednesday morning, and we slated 236 as an initial downside target. Action throughout the day however has offered up a reversal of this bias, and - in the medium term at least - we are now looking at weekly highs as the potential winning trade. It is worth noting that this is medium-term, and short term we may still be due for an intraday....

Earlier today we published a technical analysis piece detailing the upward sloping channel through which the bitcoin price was travelling. We highlighted the fact that - from resistance around 248 - we may see a temporary correction, and that this correction would likely halt at the support offered up by the aforementioned channel. Today's action has validated this analysis, and - with the correction over - we've now returned to the upside bias on the intraday level. So what are the levels to keep an eye on to the upside as we head into the US afternoon session and beyond? Take another....

Earlier today we published a piece highlighting the likely action of the bitcoin price as the BTCUSD matured throughout the European session. The primary pattern we highlighted was the downward sloping channel that formed from last night's highs just shy of 285 flat. We theorized that one of two scenarios would occur, and that this scenario would define price action as the European session closed and the US afternoon session began. So, with this said, how did the bitcoin price mature throughout the day, and what should we expect over the coming few hours? Let's take a look. The primary....

Earlier this morning we published an article highlighting the overnight action in the bitcoin price, and detailing our predictions for the coming European session. Now the European session is drawing to a close, and perspective shifts to the US, what can we expect in the BTCUSD? Let's take a look. From highs reached late last night (GMT), we corrected downwards towards what looks to be a likely floor around 286. From this level, we have seen an ascending triangle form and carry price to where we now trade just ahead of 290. The parameters of this triangle are the levels to keep an eye on -....

A little earlier today we covered the decline in bitcoin price throughout yesterday afternoon's session, and the relatively flat action we saw as we approached the European open for Monday. Action has now matured, and a look at the bitcoin price on an intraday level offers up a bullish short-term bias, and the potential for further gains as we head into the US afternoon. So, with this in mind, what are the levels to keep an eye on? Let's take a look. Today's action has seen BTCUSD trade relatively erratically, though we remained within a downward sloping widening channel until about 2 PM....