Bitcoin Price Dominated by Asian Session: European Consolidation
Fundamental opinion seems to be driving the bitcoin price at the moment. We have seen sharp declines in a matter of hours spike the bitcoin price down to fresh weekly lows, and pretty much instant corrections drawback on some of these spikes to cement positions. However, as mentioned this morning, the European session seems to be relatively quiet as far as big moves are concerned. It is almost as if the Asian markets are driving the volatility, while markets are looking at Europe as a consolidatory session. However, this does not mean that we can't set up against these driving movements in....
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Here's a look at what we are focusing on in the bitcoin price this morning. It’s been a bit of a strange night of action in the bitcoin price overnight during the Asian session, and we are heading into the European open on the back of what turned out to be some pretty unpredictable action. Price traded up sharply around the turn of the night, before correcting to trade sideways for a little while, and then, after some consolidation, dropped again to carve out fresh intraday lows. From these lows, we saw a bounce, and the bounce has given us a nice range with which to play with during....
We've got much of the same action in the bitcoin price today, and we could be winding up for a big move a little later on this afternoon. Here's what we're looking at. Yesterday we went into quite a bit of depth concerning our interpretation of the action in the bitcoin price so far this week. We noted that the action represented a consolidation of bullish and bearish sentiment, and that this consolidation could act as a sort of winding up before a big move. Action has now matured throughout last night’s Asian session, and we are mid way through today’s European session, and things haven’t....
We are heading into the midway point of Wednesday's European session, and action has been pretty volatile overnight. Over the past couple of weeks, we have seen a few up and down movements, primarily during the Asian session on Chinese volume. The European sessions have been relatively quiet. This trend seems to have bucked, however, with the advent of some volatility early this week, and so we are approaching each session with the opinion that we could get some intraday movement and, in turn, some decent entries. So, with this said, and as we head into a fresh afternoon's trading, here's....
So last night we hit 300. Its been a few months since we've seen these levels in the bitcoin price, and reaching 300 shows that - despite numerous suggestions to the contrary - there are plenty of bulls out there ready to buy into any bitcoin price strength. Now action has matured throughout the Asian session, and as we head into a fresh European session this morning, what are the levels we are watching in the bitcoin price, and where are we looking next? More importantly, will the upside momentum continue today, or are we heading into a consolidation and some more corrective action? Take....
Here's a look at what we are focusing on in the bitcoin price this evening. Our start to the week was a great one, and our end to last week was even better, but now it looks as though things might be starting to slow down a touch. Action during today’s European session has been pretty flat, and we’ve not managed to get in and out of the markets as we might have liked. This doesn’t mean that we won’t be able to get in this evening, of course. Things are often quiet during the European session before popping in to action overnight and – as the US session and (with a short gap) the Asian....