Bitcoin Price Range Holds: Here's What to Watch
Late yesterday afternoon, shortly before the European session drew to a close (GMT) we published a piece highlighting the day's action in the bitcoin price, and offering up a number of key levels that we were looking to in order to gain some insight into a potential overnight bias. We suggested that a break of either in term support or resistance would offer up a bearish or bullish bias respectively, and noted the targets we would look to in the event of such a bias being signalled. This said, what I see happening overnight, and what are we looking at today? Take a quick look at the chart.....
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In this morning's bitcoin price watch piece, we published our thoughts on how the situation in Greece was unfolding, and how it would in turn affect the bitcoin price going forward. We suggested that - from the swift decline we saw from yesterday's highs - we might see a correction and some upside momentum return us to around the 300 mark and - perhaps - beyond. However, during today's session, we have seen some pretty flat action. While we did get something of a correction from this level, we have failed really to move that much, and we currently trade well within the range we slated this....
In this morning's bitcoin price watch piece, we focused on the volatility we had seen throughout the Asian session last night. We noted that we would trade the range formed in the bitcoin price initially, but do so in anticipation of a larger, more pronounced move a little later on this evening. Action has now matured throughout the day, and as we head into the close of the European session, what are we looking to trade, and where will we define our risk in the event that we get our anticipated volatility? Take a quick look at the chart. As the chart above illustrates, the levels we are....
This morning we suggested that - as a result of the action we had seen in the bitcoin price over the weekend - we may finally get some movement during today's European session. Action has now matured, and as it turned out, we have pretty much just ranged sideways between the two levels we had slated as today's ones to watch. As we head into an Asian session this evening, do these levels still hold, and which of our two primary strategies will we be looking to use in order to get in and out of the markets accordingly? Take a quick look at the chart. As you see, 238.44 remains as in term....
In yesterday's bitcoin price watch piece, we outlined our intraday strategy according to an altered approach. We suggested that - as a result of the relatively consistent fluctuations in the bitcoin price over the last few days, we would widen out our range a little and trade long from support and short from resistance, in an attempt to draw profit from intra range volatility. The strategy paid off and, as a result as we head into today's European session, we will incorporate the possibility for a range trade into today's plan of attack. So, with this said, here are the levels we are....
In this morning's bitcoin price watch piece, we highlighted a few of the levels we were keeping an eye on as, and suggested how we would react to price reaching these levels as far as entering a trade was concerned. Now price action has matured throughout the European session, what are we looking at in the bitcoin price as we head into the weekend? Take a quick look at the chart. As the chart shows, very little has happened since this morning as far as price action is concerned. Our range holds, with 235.10 now acting as in term support and 239.68 - yesterday's high - offering us a....