Bitcoin Price Watch; That’s A Wrap!
Here's a look at what we are focusing on in the bitcoin price this evening. So there it goes, another week down, and what an interesting week it’s been. Well, interesting maybe isn’t the right word. Perhaps frustrating is a little more apt as a description. The bitcoin price was basically flat for a few days at the beginning of the week, and we started to think that maybe there was a long stretch of sub-1000 action ahead of us. Price didn’t look like it was going to break, and volume didn’t look like it could support a break even if price decided to, and out intraday strategy was looking....
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Here's a look at what we are focusing on in the bitcoin price this morning. So that’s another day done, and as we noted this morning, there’s plenty of price action to discuss this evening. The bitcoin price has been super volatile over the last few weeks, which for some, will come as a welcome change from what was essentially a dead period throughout Sep-Nov. Instead of the range bound action we saw across that period, mid to late December, and carrying through into early January, has brought with it some real momentum. First, we saw price run all the way up to 1,300. That’s a level some....
Bitcoin Price and the 700 BTC sell wall. If you have been following Bitcoins price, you have noticed that it’s risen from its price of around $450 to as of now, around $580. This is a 33% increase in price and the sudden explosion of growth as many people scratching their heads. One of the most prominent news that first got things in the motion was the buying of a 700 bitcoin sell wall. In layman terms, this means someone had a order of 700 Bitcoins for sale at a certain price. This means that the price cannot increase, effectively a ceiling. Now that that’s out of the way, the prices been....
This week we saw volatility that was a lot, even for the relatively unstable Bitcoin market. The week started at a low of $230, spiking all the way up to the $260 range that totals to a nearly 13% increase in price. Like many people expected, however, the price quickly fell back down and is currently hovering at just above $240, coinciding with the prediction I made in last week’s Market Wrap-Up. Despite all the turbulence in price Bitcoin has received this week, Bitcoin still ends the week with approximately 4.5% net gain.
The European session is drawing to a close, and it’s heading into lunch time in the US. As usual, this means it’s time for the second of our twice daily bitcoin price watch analysis pieces, so here goes. First, we will have a quick look at what action threw out today, and then we can interpret this action and use it to try and figure out how we can approach this evening’s trading. So, to kick things off, take a quick look at the chart below. It represents action seen during the last 24 or so hours. As the chart shows, volume this morning was pretty low, and price action has remained well....
Here's a look at what we are focusing on in the bitcoin price this evening. Well, there we go, another week of trading the bitcoin price nearly over. As we said this morning, it’s been a great week for our breakout strategy. When tings move like they have done this week, it’s difficult not to profit from the volatility. All we needed to do was set up our key levels and wait. That’s all we ever really do, but sometimes (when price action is choppy, for example) it doesn’t work out as simple as that. Anyway, we’ve got a US afternoon session to go before the weekend kicks off, and we’re going....