Bitcoin Price Collapses; Triangle Forms

A look at the bitcoin price overnight on Tuesday shows a sharp decline in the session, and sets us up for some further volatility today. As we’ve mentioned a few times last set of bitcoin price watch pieces, action has been relatively muted during the European session for sometime. However, when we get a sharp move like that which we saw last night, the likelihood is that the volatility will continue through to at least the early parts of the day, meaning that could be some opportunity for a profit from the market if we line up against any action with the correct levels today. So, with this said, what of levels that were keeping an eye on in the bitcoin price this morning? Take a quick look at the chart.

bitcoin price

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As you see, action decline overnight floors of 221.08, quickly recovered to intraday highs of 237.57, and have since traded against an upward sloping trendline between these two parameters. These are going to be to keep an eye on today (at least early on), with

Read more ... source: TheBitcoinNews