Bitcoin nails 11,300

A little earlier this afternoon, the previous update on Bitcoin suggested it was trading in between an immediate range defined by 11,300 and 11,700. At the time the price was above 11,500 and looking comfortable. It was possible then that it might try and test the topside of that range, but in the event that did not happen and now that the US stock markets have all turned red, Bitcoin has followed them lower. This was always going to be the case that Bitcoin would not make its own path and merely follow the wider markets as was underlined here earlier. Well that has now led to a drop back to test that 11,300 level. The low print so far has been set at 11,303 which of course does underline the accuracy of what was noted here earlier. The question now remains as to where it will try for next. If the US stock markets keep heading lower then 11,300 will probably not hold, but it does depend on what stops or fresh system selling kicks in below 11,300 should that level be retested again. On the topside the current chart configuration does argue that it will take something out of the ordinary to get back above the earlier session high at 11,555 before the Asian handover later tonight. Bitcoin is just now trading at 11,355