Bitcoin Price Watch; Just a Correction?
Here's what's on tonight in the bitcoin price in terms of our intraday strategy. Entries, stops and targets. In this morning’s analysis, we noted that the latest action in the bitcoin price allowed us to bring a step-up strategy into play; specifically, shifting our key levels to the upside on every move in line with the overarching bias, in anticipation of a continuation. Unfortunately, we seem to have come to a corrective phase, and that’s made our strategy difficult to execute. We got into a trade a little earlier today, but having failed to pick up any real upside momentum, the bitcoin....
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In this morning's bitcoin price watch piece, we published our thoughts on how the situation in Greece was unfolding, and how it would in turn affect the bitcoin price going forward. We suggested that - from the swift decline we saw from yesterday's highs - we might see a correction and some upside momentum return us to around the 300 mark and - perhaps - beyond. However, during today's session, we have seen some pretty flat action. While we did get something of a correction from this level, we have failed really to move that much, and we currently trade well within the range we slated this....
Here's a look at what we are focusing on in the bitcoin price this morning. In yesterday’s analysis, we noted that the run we have seen in the bitcoin price over the last week or so would likely see some degree of correction near term. That it continued through New Year is unusual in itself – we normally see an end of year correction in the more traditional financial assets as investors take profits off the table before the new year sets in. Bitcoin, it seems, is a little delayed in these traditional asset patterns, and it’s correction has taken few days longer than we might have expected.....
Here's a look at the levels in focus for today's bitcoin price watch intraday strategy. In yesterday evening’s analysis, we focused on the relatively flat action we have seen in the bitcoin price across the last few days, and commented that this might continue as we head into the close of the week. As things have turned out, we’ve seen the opposite happen overnight. Last night, as the Asian session kicked off, the bitcoin price rose sharply in what amounts to an almost mirror image of the action seen over the weekend, and topped out just shy of 750. A correction has brought things down to....
Just as we did last night, let’s kick things off with a chart. The chart below shows action in the bitcoin price across the last 48 hours or so, and has the levels that we outlined last night being the ones to watch still overlaid. As you can see from the chart, having picked up strength throughout the majority of the week so far, bitcoin looks as though it is going to be heading to the close of the week down on its opening. Overnight saw a considerable and sustained sell off, and price carved out fresh weekly lows at just ahead of 436. Action over the last couple of hours has corrected....
Here's what we are focusing on for this morning's session out of Europe in the bitcoin price. Yesterday evening, we published the second of our twice-daily bitcoin price analyses. Our primary concern in the piece, was that bitcoin had gained so much throughout the day, but that as a result, expected a pretty wide scale correction on these gains. The only problem was that we did not know when this correction would come, or how severe it might be. As markets booked profits on the speculative portion of the volume, a domino effect could quickly take hold. Of course, the sustained upside....