Bitcoin yet to make a move

On Friday it was noted here that Bitcoin was set up to suffer a weekend relapse. Well, that did not exactly play out as envisaged despite the price falling towards recent lows on Saturday. However, the move lower stalled ahead of the recent 11,216 low and duly rebounded again, culminating in a rebound back above 11,500 earlier today. Bitcoin lifted to as high as 11,543, but it did not surpass the immediate high set on Thursday, when it topped out at 11,555. The price has drifted a little lower again over the past couple of hours, but it is not exactly conclusive in either direction right now. What is clear though; is that the former relatively tight correlation between Bitcoin and the EUR/USD has certainly decoupled over the past two weeks. Beyond that, the price is more immediately still trading sideways, with the new lines of demarcation in place at approximately 11,200 to 11,600 for the time being