Bitcoin Price Watch; Breakout Strategy in Play!
Here's what we are watching in this evening's bitcoin price. Both the intrarange and breakout strategies are available for use. In this morning’s analysis, we noted that a downward sloping channel offered up the potential for an upside break, and in turn, some strength in the bitcoin price throughout the Wednesday European session. It’s been about seven hours since we released our interpretation of last night’s action, and things haven’t exactly played out as expected. We got a downside break that put us in a medium term short trade, but a quick reversal leaves us currently just shy of an....
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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,....
Yesterday afternoon, we published our twice-daily bitcoin price watch piece. In the piece, we highlighted the levels that we would be looking at around evening during the Asian session, and suggested that - as a result of the widening of our regular parameters - we could probably get in and out of the markets according to our intra-range strategy. Action has now matured overnight, and - as we head into a fresh European session - what of levels that we are keeping an eye on in the bitcoin price today, and how can we try and draw profit from the market on the back of these parameters? Take a....
Here is our slightly altered (but hopefully just as effective) bitcoin price watch intraday strategy for Friday's European session. Those who have followed along with our bitcoin price watch pieces over the last few weeks will have noticed a common thread running through our strategy. We’ve been defining relatively tight ranges and skipping in and out of the markets with these ranges on breakout scalp trades. It’s been somewhat effective but there have been some pretty frustrating periods through which we’ve had to sit and stay net flat in the markets. Well, to mix things up a little....
Here's what we are looking to trade in tonight's bitcoin market - specifically our scalp strategy. Earlier on this morning, in our twice daily bitcoin price watch piece, we noted that after the rough and tumble week we’ve seen, we may see some sideways action throughout today’s session. We hoped it wouldn’t be the case (breakout trading is far more exciting than sitting flat in the markets) but we’re net black on the week so far and we wouldn’t want to jeopardize that with some recklessness, so we’d accept the sideways action if it came about. As things have turned out, that’s exactly what....