Sellers and Buyers Continue To Battle It Out
20. January 2018 04:07 GMT – The BTC-USD market continues to be a battleground between the buyers and the sellers at this point. There is a consistent activity development that has been taking place over the past 2-3 weeks. That is the following:
- The buyers are in the majority from roughly 18:00 GMT to between 08:00 and 12:00 GMT the following day,
- And the sellers take over in the period between 08:00 and 18:00 GMT.
What this means (and if you are looking for it, you can see it fairly clearly) is that the price goes up at night (GMT) and down during mid-day and afternoon. If you know that, it should help you make some additional profit on your trades, depending on your timing. Give it a try!
The market yesterday tended to run between $11’100 and $11’700, with the expected ups and downs. Of course, the information about about the sellers and buyers timing I wrote above did not pan out today.
Buyers In The Majority
20. January 2018 17:17 GMT – In an interesting development, the sellers did not come in strong during the afternoon session. In the morning – about 06:00 to 08:00 GMT – there was a strong buying surge that pushed the market price up by about $1000 from $11’600 to $12’600 (about 8-1/2%). The price held at about that level all afternoon until buyers started coming in again at about 15:45 GMT and continued to the present time, and the price increased to almost $13k. None of the top-rated crypto-currencies are following BTC at the present time. Ethereum and ripple have registered about 1/2 the gain of BTC today so far. BTC Futures have dropped and are below the present BTC price.
Will the present level hold? Will the buying surge hold? We will see either later tonight or tomorrow.
Buying Trend Continues – More or Less
20. January 2018 23:15 GMT – The buyers trend that started about 16:00 GMT today is not quite as strong as it first appeared, but it did tend to hold stable at about $11’800 plus/minus $200 through to this time. Stay tuned for more news tomorrow. 🙂