In this morning’s bitcoin price watch piece, we reiterated our Thursday evening comments – primarily focusing on the muted action we had seen in the bitcoin price throughout the Thursday evening session and, in turn, the Friday morning session in Europe. We were hoping that the sideways trading represented something of a consolidatory phase – one from in we would see some some pressure build and eventually break out into some decent volatility.
We are now drawing to a close on the Friday European session, with an afternoon left out of the US and Asia already done for the day. So, as we head into Friday evening, and beyond into the weekend, what are we looking at, and did today’s strategy reap any rewards from the relatively uninspiring action seen over the last 48 hours? Let’s take a look. First up, and as ever, take a quick look at the chart to get an idea of what happened during today’s session and to see where we are placing our key levels going forward. It’s an intraday, 15-minute chart wit ha circa 48-hour focus timeframe.