Bitcoin Price Breaks, Range Then Holds: What's Next?
This morning we published our twice-daily bitcoin price watch analysis piece. In the piece, we speculated that - while we had seen some volatility overnight in the bitcoin price - we may get the breaking of a range during today's action, and if so, we suggested a couple of the levels we would be keeping an eye out for as far as potential medium-term intraday targets were concerned. Action has now matured throughout Friday's session, and we are heading into the weekend. What are the levels we will be looking for this evening, and how might we draw profit from the market before the start of....
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Bitcoin price continued on Sunday as it had done on Saturday: quiet trade in a $4 range. Today’s price action seems to be coiling up for a larger move. Another quiet day in the bitcoin price chart with price hugging the 200-hour moving average. Volume remains low but the additional onset of low volatility within a narrow price range gives the impression that a larger move is building pressure in the chart. Longer term constraints remain $449 (Bitstamp) and the horizontal resistance zone up to $470. The price action since Thursday 12th April resembles a base pattern and a Fib extension tool....
Litecoin fell more than 5 percent over the weekend as weakness returned to haunt the cryptocurrency markets. The Bitcoin market is also struggling to cope with the selling pressure and has returned to its crucial support of $220. Litecoin is currently trading at $3.330 and is well within its medium term trading range. In the previous Litecoin price technical analysis Sell on Rallies, we discussed how Litecoin remains weak and any rise in the valuation can be used to go short. That holds valid for even today. The latest technical indicators are nowhere positive or indicate that a reversal....
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....
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....
Here's a look at what we are going for in the bitcoin price this evening for the late US and early morning Asian sessions. That’s the European session done, and it’s time to take a look at how we can interpret action today to put together a strategy for this evening. Things have been pretty dull over the last few weeks, but this week, things picked up considerably, and we’ve seen numerous breaks throughout the intraday session and we’ve been able to get in and out of the markets according to a few different variations of our strategy. Let’s hope we can carry on with this this evening. So,....