Bitcoin Price Watch; Stop Hit!
Here's a look at what we are focusing on in the bitcoin price this evening. The European session has now drawn to a close, and it’s time to take a look at the action we saw in the bitcoin price throughout the day, and see if we can use that action to put together a strategy for this evening out of the US, and beyond, into Asia. Once again, it’s been a pretty tough day. Last night we noted that we got taken out on choppy action by a stop loss hit on a short position. It wasn’t a crippling loss (that’s why our stops are in place, after all) but it was a bit frustrating as we are now net down....
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Yesterday afternoon we noted that action in the bitcoin price seemed to have tightened up, and that as a result, we were going to tighten up the ranges we were trading (alongside our risk management and target parameters) to accommodate these conditions. The hope was, that by tightening things up, we would be able to get in on any volatility, however small, and draw a quick profit from what look to be very uncertain markets. As it turns out, things didn’t work out quite as we’d hoped. The bitcoin price remained pretty much within the range we slated as the one to watch overnight, until a....
Coinbase was recently in news for introducing Stop Loss feature on its exchange platform. Read further to know more about Stop Loss. Coinbase recently announced the integration of ‘Stop Order’ function which allows its users to trade bitcoin in a convenient fashion without having to deal with drastic price fluctuations. What Is a Stop Order and Why Is It Important? To begin with, a stop order is a feature that allows users to buy or sell any asset on a trading platform when the target asset’s value reaches a particular price point of choice. Stop orders are also known as stop-loss orders.....
Here's a look at what we are focusing on in the bitcoin price this evening . It’s been a rough day to be an intraday bitcoin price trader. In this morning’s analysis, we highlighted a pretty tight range and set out some entry rules with which we would get into the markets on any volatility. We suggested that the recent action seen in the bitcoin price was conducive to a break, and that this break could come at any time during the European session, but likely later as the US session opens up for the day. Well, we did get a break, and a bit of volatility, later on in the session.....
It is the end of the week, and the bitcoin price looks to have settled down somewhat having experienced quite a lot of volatility across past few days. The range that we defined yesterday morning has not yet been broken, and just as we did last night, we’re going to keep it in place – well, sort of. The chart below shows action overnight, and is representative of the last circa 24 hours of action in the bitcoin price. It’s a 15-minute candlestick chart, and it has our slightly revised range overlaid. As you can see, the range in question for this morning’s price watch analysis is defined....
A head and shoulders pattern is forming in the bitcoin price - here's how we're looking to trade it. In the introduction to yesterday’s analysis, we noted that we remained in a trade from Monday’s session and – as such – wouldn’t be getting in to any fresh trades before we were taken out of the ongoing entry – be it for a stop loss hit or a target take out. We had run down towards our target, but reversed short, and – at time of writing yesterday – were trading a lot closer to our stop than our target. As things turned out, we got taken out for a stop hit, and went into yesterday evening’s....