Bitcoin Price Gets Boost: Breakout strategy on!
Shortly before the markets closed in the UK yesterday afternoon, we published our twice-daily bitcoin price watch piece. In the piece, we suggested how we would approach the markets throughout the Asian session, on expectations that markets and volatility and be able to implement our breakout strategy overnight. As it happened, we did get this volatility, and managed to get in and out of the markets pretty cleanly. So, with this said, what are the levels that we are watching today, and how we going to respond to any further volatility in the bitcoin price as business kicks off in Europe?....
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Here's a look at what we are focusing on in the bitcoin price this evening. Price has been especially active over the last few days, and we’ve had numerous opportunities to get in and out of the markets according to our intraday strategy. Both our breakout strategy and our intraday strategy have come in to play (those of you who have been with us for a while will know how rare both of these strategies are active, and more specifically, effective, at the same time) and it’s given us an opportunity to get in not just on upside and downside breakout volatility, but also some reasonable....
It is becoming increasingly difficult to draw a profit from the market. What has been a faithful strategy for the past six months or so, our traditional breakout strategy, is failing to offer many valid entry signals on the back of the consolidatory action we have seen in the bitcoin price over the last week. We have ranged tightly mid range, not even touching our key levels. Not only has this left us unable to implement a breakout position, but it has also made it difficult to effectively bring our intrarange strategy into play - as this requires us to correct from a key level to enter,....
Here's what we are looking at for tonight's bitcoin price intraday strategy. Range, breakout and stops/targets included. We’re going to kick of this analysis a little differently than normal. We are in a live trade based on an upside breakout a little earlier on today, and as such, our strategy dictates that we shouldn’t be looking to enter any further trades until this one resolves – be that through a stop loss hit or a target take out. The latter of the two is looking more likely as things stand, but as we’ve seen over the last few weeks in particular, the bitcoin price space can be....
In this morning's bitcoin price watch article, we outlined the trade we made overnight according to our intraday, intrarange strategy, and suggested that for today's European session we would revert back to our more traditional breakout strategy and try to scalp a few dollars on any volatility in the bitcoin price. Action has now matured throughout the day, and it turns out the strategy switch was a good move, with price breaking to the upside midafternoon and reaching our predefined target almost to the cent, before reversing to correct a little to the downside. So, as we head into this....
We are returning to our breakout strategy for our intraday bitcoin price trading efforts today. Here's what you need to know. Last night, we set up a little bit differently for the second of our twice daily analyses. Rather than outline standard support and resistance, we looked at an upward sloping triangle that offered us the opportunity to get into the markets on a scalp trade position, and use that to draw a sharp, decent downside profit. Action is now matured overnight, and our scope trade worked out just as we had hoped. Price broke shortly after we published our strategy, and....