Bitcoin Price Analysis: Expected Movements Today

Bitcoin price action has, since publication of this week’s in-depth report, provided some clues as to what the market may do next. Price returned to below $510 today with a brief dip below $500 (on the leveraged exchanges) during the European market session.
Welcome, readers, to CCN’s new daily analysis update. A longer term analysis report will be published each weekend with daily market updates each weekday. Daily updates will look at intraday price swings and trade opportunities on various Bitcoin exchange charts. Currently, the Bitstamp chart is referred to unless otherwise indicated. Readers are welcome to comment with requests and suggestions below the article.
Hop, Narrow, Drop A common wisdom in the market says:
‘Periods of low momentum precede periods of volatility.’

This post was published at Crypto Coins News on 29/08/2014.