Bitcoin Price Range Holds: Weekend Volatility Ahead?
In this morning's bitcoin price watch piece, we highlighted the levels that we would be watching throughout today's European session, and suggested how we would respond to the bitcoin price reaching these levels as far as getting in and out of the bitcoin market was concerned according to our intraday breakout strategy. Today's European session has now drawn to a close, and - as we head into the weekend - we expect to see some further volatility. Perhaps not quite as much as we saw last weekend, primarily as a result of the lack of fundamental drivers expected this weekend, but still....
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Here's what we're watching in the bitcoin price on Friday evening, and beyond, into the weekend. We’re about to shut down our analysis for the weekend, but before we do, let’s take one more look at the bitcoin price, in an attempt to set up against any potential volatility that comes this evening and, beyond that, into the weekend. The chart below shows action across pretty much the entire week. As you can see (and ignore the blue highlights for now, these will come into play when we zoom in to the intraday chart shortly) action was pretty volatile at the beginning of the week, declining....
Here's what we are looking at in the bitcoin price for today's session. We are right at the beginning of a fresh week’s worth of trading in the bitcoin price, and it’s looking like we might get some interesting action going forward. Volume was pretty low across the weekend, but we still saw some volatility, and were able to get in and out of the markets according to our intraday strategy and draw a profit from the action. Ahead of this morning’s open, the bitcoin price gained to fresh highs just shy of 422 before correcting to close the gap on the gains we saw at the beginning of the....
Here's what we are focusing on this morning in the bitcoin price. In last night’s bitcoin price watch analysis piece, we highlighted a range that was quite a lot wider than those we have looked at across the last few weeks. This was in response to the volatility we saw over the weekend, and the opportunity this afforded us for an intra-range approach, rather than just our standard breakout strategy. Overnight, action didn’t mimic the volatility that we saw on Sunday, and pretty much just trended within the range we had predefined. Admittedly, it was a wide range, so it was optimistic to....
Here's what we are looking to trade in the bitcoin price as we head into the weekend. Stops, targets and entries included. In this morning’s bitcoin price watch article, we noted that the range we were focusing on in the bitcoin price was probably a little too tight to bring an intrarange strategy into the equation, but for an aggressive trader, it would probably be possible to draw a profit under some strict risk management parameters. We also discussed some breakout entries, and outlined a few key levels that we would look to take a position at if, and when, the bitcoin price closed....
At the end of last week, we reported that we had seen quite a lot of volatility in the bitcoin price, and that - as a result - we were switching our strategy from an intra-range to a breakout. Over the weekend, we've seen more of this volatility, and as such our strategy going into today's session is unchanged. With this said, the parameters that we are looking at are slightly different from those which we were keeping an eye on on Friday. So, moving forward, what are the levels that we are watching during today's session, and where can we look to get in and out markets according to our....