Around this time last year for those who have been following up with the Bitcoin price, the bitcoin price got stuck in a cycle of up-and-down action followed by periods of drawn out consolidation. The cycle came on the back of a variety of different news, both positive and negative sentiment playing the way price moved.
As we move into the middle of this week, it looks we are in the midst of a similar system of pattern.
Price cannot seem to decide an overarching direction and return it looks as though it might have done, we see some consolidation and – eventually – a reversal. When you trade short-term charts, volatility is the basic thing we watch out for not overarching direction. It does make breakout trades a little more difficult because we cannot guarantee that price going to run to a substantial degree in the direction of the road. So long as we keep our targets relatively modest, however, there is no specific problem. Though, it is a bit frustrating sometimes, but what else do you expect from the markets?
