Bitcoin Price Watch; A Rocky Start to the Week…
Here’s what we are looking to trade for the first part of today’s session in the bitcoin price. It’s been a rough weekend for the bitcoin price. At the end of last week, we noted that there was a potentially large moving coming up, based on the consolidatory action we had seen throughout the latter half of the week. We hoped (from a long term holding perspective) that it would be to the upside – towards the 500 flat level that has proved so elusive over the last couple of months. We did get the movement we expected, though unfortunately the move came to the downside. There’s a silver....
Related News
On November 15, 2020, the Bitcoin Cash blockchain experienced a network upgrade and a bifurcation of the chain as well. While the Bitcoin Cash network continued on smoothly, the ABC pro infrastructure funding plan (IFP) side of the chain had a rocky and extremely slow start. Since the 15th, the nameless ABC chain has seen 197 blocks processed to-date, as a few miners are pointing hashrate at the network keeping the new blockchain going. Just recently Bitcoin Cash (BCH) endured a network upgrade and a consensus split when the full node project Bitcoin ABC decided to keep the IFP baked into....
Here's a look at what we are focusing on in the bitcoin price this morning. Right then. A fresh week is here in the bitcoin price, and we are hoping for a replication of last week’s volatility. This week, things should start to settle down from a fundamental perspective. There was a lot going on last week politically, and political uncertainty always filters through to the markets – that is, the financial asset markets. It’s really too early to tell whether or not this sort of impact will translate to sentiment shifts in crypto. Yes, we’re closing in on a decade of maturation, but even....
Here's a look at what we are focusing on in the bitcoin price this morning. So that’s it – another week’s worth of trading in the bitcoin price pretty much come to an end. We’ve got the morning European session ahead of us, and beyond that, the US session this afternoon, and then the weekend. Overall, it’s been a pretty good week. Action was nice and volatile heading into the start (and through until around yesterday midday) before settling into something of a range during the Thursday US evening session and in to the Asian session last night. We managed to start above the 600 flat mark,....
Here's our interpretation of the latest action in the bitcoin price on Wednesday. So it looks like we are finally getting a return to the overarching bullish momentum that took us to trade just shy of $500 towards the end of last year. It’s been a rocky month or so, with the bitcoin price hitting lows not seen in a long time, but with any luck things are back on the up and we can start to see a shift in sentiment. In yesterday’s analyses we noted that we expected a sharp move as the US markets reopened and joined forces with Asian volume. We didn’t know what direction that move might be....
Since our previous update, the market has moved down to a low of $750, stalled out in the low $800’s for awhile, then recently took out the $900 level once again. Regardless of whether there is a continuation to the upside unless there is a break of the ATH the market will be in a large consolidation range. This week has brought a fairly nice run to the upside following a rocky start to the year, although at this point it’s hard to call this anything more than a short-term countertrend bounce. Not to say that another leg to the upside is out of the question but even if we get an additional....