Bitcoin Price: Classical Pattern Targets Big Upside

So in yesterday’s bitcoin price watch piece, we noted that action over the last week or so has been subdued in the majority of the financial asset markets as a result of the holiday season, and that the low volume we have seen in the bitcoin space suggests a mirroring of this trend. We also noted, however, that things seem to be getting back to normal this week, and we are likely to see some volatility going forward. We are currently mid way through the European afternoon, and the bitcoin price looks to be relatively unstable. As things stand, this makes it pretty tough to form a conclusive intraday bias. Having said this, there are a few things we can look at to try and gain some insight into the likely action throughout the rest of today’s session and as we head into tonight’s Asian action. So, with this said, let’s take a look at our different strategic approaches, and see which of them works best as a response to any movement we get going forward. As always, take a quick look at the chart below to get an idea of what today’s key levels are, and where they fit into

Read more ... source: TheBitcoinNews