Bitcoin Price Tight; Big Move On
We've got much of the same action in the bitcoin price today, and we could be winding up for a big move a little later on this afternoon. Here's what we're looking at. Yesterday we went into quite a bit of depth concerning our interpretation of the action in the bitcoin price so far this week. We noted that the action represented a consolidation of bullish and bearish sentiment, and that this consolidation could act as a sort of winding up before a big move. Action has now matured throughout last night’s Asian session, and we are mid way through today’s European session, and things haven’t....
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Here's what we are looking to trade on any volatility in the bitcoin price on an intraday basis this evening. In this morning’s bitcoin price watch piece, we looked at the action we had seen overnight in the bitcoin price, and suggested that we might be looking at a sustained move for today’s session. The range we outlined was pretty tight, though concurrently wide enough for us to bring both our intrarange and breakout strategies to the table. Action throughout this morning was pretty tight, until we spiked just now, and this has redefined tonight’s parameters. Take a look at the chart....
Bitcoin’s price action has calmed after a strong move lower on the news of the CFTC charging BitMEX and President Trump catching the disease spreading across the globe. The cryptocurrency is currently trading in a tight $30 range, indicating that investors are indecisive. Bitcoin Enters Tight Range as Market Is Indecisive As noted by a top Bitcoin analyst, the leading cryptocurrency has been trading in a $30-50 range over the past few days as investors […]
In yesterday’s bitcoin price analysis, we were all about risk management. The action we had seen over the duration of the week left us a little jittery, and we were concerned that without tight risk management we might get caught on the wrong end of a sharp movement and, in turn, an irreparable loss. As it turned out, things went pretty well for us, and we managed to pick up a few dollars’ profit on our intrarange plays. Things weren’t as volatile as we expected, and this lack of volatility looks to have filtered through into today’s action. We are pretty much range bound, which means that....
Litecoin has advanced following the lead of Bitcoin in the anticipation of a solution to the Greek crisis. While Bitcoin has staged a breakout, Litecoin's upside potential remains capped by a resistance line. Litecoin is currently trading up 0.97% at $3.019. I had mentioned in my previous analysis that Litecoin should be shorted if the price rose to $3.020, and I reiterate that short positions should be built by placing a stop-loss (closing basis) above $3.050. Technical analysis implemented on the 240-minute LTC-USD price chart indicates that the market is awaiting a trigger to make a big....
Here's a look at what we are focusing on in the bitcoin price this evening In this morning’s bitcoin price analysis, we outlined what was a pretty tight range for use during the European session, and said that we would incorporate our breakout strategy only for as long as action remained as-was. That is, relatively tight highs and lows, without too much in the way of volatility. Action has now matured throughout the day, and there hasn’t really been too much to speak of. We did get a little bit of a break earlier on today, and we managed to get in for a quick profit to the upside, but....