At the end of last week, we published the second of our twice daily bitcoin price watch pieces. The main premise of the piece was that we had seen quite a lot of upside momentum and that there was every chance that we would see some selling pressure, as speculators took profits and price consolidated. Action has now matured over the weekend, and our thesis proved valid – with the bitcoin price reaching just shy of 462 flat and then correcting towards intraday lows of 425.43. From this level we have bounced a little, but still remain down on the overarching bullish momentum of last week. With this said, and as we head into a fresh week’s worth of trading, what are the levels we are looking at in the markets today, and where are we looking to get in and out of the markets according to our intraday strategy? First up, take a quick look at the chart to get an idea of today’s range.
http://www.newsbtc.com/2015/12/21/bitcoin-price-hit-recovery-on-the-cards/
