Bitcoin Price Range Holds Firm: Scalp Opportunity Awaits
Having declined steeply over the weekend, we reported in yesterday's bitcoin price watch piece that the BTCUSD initially kicked off the day trading gently to the upside within a predefined range, before kicking off a further decline and taking out our downside target. We later reported that we were looking at a fresh range throughout the evening on Tuesday, and that we would enter a short-term scalp trade if we don't break out of this range. Now as we enter a fresh European session, is this range still pertinent, and what things will be looking for in the event of a fresh break today? Take....
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Here's a look at what we are focusing on in the bitcoin price this morning. It is Tuesday morning, and time to take a look at the bitcoin price for the first time today. Action overnight was pretty weak, as it has been for the majority of the last few days, and we didn’t really get any opportunity to get in and out the markets as we would have liked. This doesn’t mean that we aren’t going to see any action today, but it may weaken our key levels purely because we haven’t had any recent breakouts. As has been pretty standard so far this week, we are going to stick with a really tight range,....
A scalp pattern has presented itself in the bitcoin price, here's how we are looking to trade it. For this evening’s analysis, we’re going to go at our bitcoin price strategy a little different than normal. A look at the cart below reveals the formation of an upward sloping triangle during the European session, and this has offered up an opportunity to scalp the markets. We can still define a range for the longer term breakout approach, but a few dollar scalp is always a nice quick turnaround position, so as we head into the close of the European session and move into the US afternoon,....
Here's a look at what we are focusing on in the bitcoin price this morning. It’s Tuesday morning, and time to take the first of our twice daily looks at the bitcoin price. Yesterday we got chopped out on a false breakout, but overnight we managed to draw a small profit from the markets on a scalp trade on the short side. Today we are going to attempt to replicate our overnight success with a similar strategy. Specifically, outline a relatively tight range and look to get in on a short term scalp trade if price closes outside of the range, with a position in line with the direction of the....
Here are the levels we are focusing on for tonight's bitcoin price scalp strategy. Our analysis this morning highlighted the range we would be focusing on throughout the European morning session, and since publication, we’ve not really seen too much movement. The bitcoin price remains well within the predefined parameters, and we decided not to bring our intrarange strategy into play, so as yet we remain out of the market and net flat for the day. As a result, and to make things a little more interesting this evening, we are going to focus on our scalp framework. Specifically, we’re going....
Here's a look at what we are focusing on in the bitcoin price this morning. We’ve come to the end of the week, and it’s been a pretty boring one from an intraday perspective. The bitcoin price doesn’t seem to want to breakout of a circa ten to twenty-dollar range, and this has proven difficult to navigate using our relatively tight intraday range on the five and the fifteen minute charts. Last night we suggested we could go at things with an intrarange approach to try and diversify away from just using our breakout scalp approach, but it didn’t make too much difference. During the Asian....