Bitcoin Price Bounces: Upside on the way?
Bitcoin Price Analysis. Finally, during the overnight Asian session, we saw some temporary reprieve in the steep decline we have seen in the bitcoin price over the last few days. Yesterday's momentum brought us to trade just shy of 230 level, and overnight, we broke through this level on the intraday charts and topped out around 234.59 - pretty close one currently trade. Now we are finally seeing some action, it may be the time to set up against further volatility during today's European session. Over the last week or so Europe has been pretty full of consolidation, but if we can break out....
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Bitcoin price pushed to $392 (Bitstamp) and, today, attempted the high again but failed. Once again in tandem with gold, bitcoin price fell away from the high and now approaches support. Will it break or will it bounce? Watch the bitcoin chart in the coming hours to see whether or not price finds support and bounces higher. A surge into an advancing trend was expected – and all the indications were confirmatory – but the irregular base wave formation leaves such an outlook in doubt. The price pattern of the current push higher does not differ from previous corrective waves to the upside.....
So last night we published our twice-daily bitcoin price and highlighted what we will be looking at throughout the Asian session during Thursday evening. The main topic of conversation was the overarching bearish decline we have seen the bitcoin price over the last few days, and the suggestion that - if we broke in term support - this decline could well continue as we head into the weekend. As it happens, we did get a bit further decline, but during pre-session Friday morning, we have had a little bit of reprieve. So, with this said, what of levels that we are keeping an eye on in the....