Its that time again – where we take a look at what happened overnight in the bitcoin price in an attempt to decipher the likelihood of some volatility today. We’ve seen some erratic movement over the past week or so, with large moves during the overnight Asian session preceding consolidation, and in turn, range bound action during the European session. Are we set for more of the same today, or is the trend reversed? Further, and in response to either scenario, can we bring our strategy to the fore and draw a profit from the market? If we get some action, then of course! So, with this said, what are we looking at today. And where can we look to get in and out of the markets on any such action? As ever, take a quick look at the chart below.
As the chart shows, action overnight mirrored exactly the pattern we described, albeit a little delayed on the standard timeframes. The bitcoin price waited until shortly after daybreak UK to break to the upside, and