As a result of the pretty lackluster bitcoin price action we have seen across the bitcoin markets over the last few days, these analyses are probably getting pretty tedious for some. Indeed, the ability to stay out of the markets and not enter trades based on our standard strategies is similarly tedious. When we entered the week, we did so off the back of some large upside gains initiated over the weekend on high volume. This suggested that we would see a pretty volatile week, and gave us plenty to look forward to as things progressed.
We are now heading into the Thursday morning European session, however, and things haven’t been as active as we’d hoped. Having run up on the back of the aforementioned upside volatility at the beginning of the week, bitcoin price has since declined and traded sideways for pretty much 72 hours, and now remains midrange between a range that we have been looking at pretty much all week. This doesn’t mean that today won’t bring the volatility we need however. So, with this in mind, and with a little bit of patience held, let’s move forward into what we’re focusing on during today’s European session, and