Bitcoin Price Hits Highs, Corrects: Now What?
Yesterday afternoon, shortly before the European session closed out for the day in the more traditional asset markets, we published this piece outlining the likely action in the bitcoin price over the following 12 hours. Those 12 hours have now passed, and Thursday morning action is offering up two potentially conflicting biases. Close monitoring of the bitcoin price over the European morning session should serve to validate one of these biases, and could offer us an opportunity to draw a profit on a small scale, intraday level after lunch. So, with this said, what should we be looking for....
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Bitcoin price continued to gain strength against the US Dollar, and it looks like BTC/USD remains a good buy if it dips or corrects lower. Key Points. Bitcoin price remained in an uptrend against the US Dollar, and traded above the $750 resistance. There is a major bullish trend line formed on the 4-hours chart (data feed from SimpleFX) of BTC/USD, acting as a support area. If the price corrects lower, it may find buyers near the $750-40 levels. Bitcoin Price Major Support and Buy Area. There were continuous gains in Bitcoin price against the US Dollar, as it broke a couple of important....
Late yesterday evening we published our twice daily bitcoin price watch piece. In the article, we suggested that - as a result of the bullish momentum we had seen in the bitcoin price throughout the European session on Tuesday - we would be looking for a continuation of that momentum and a carry through of our breakout strategy to the upside. Action has now matured overnight and - as it turns out - we did not get any such carry through. Instead, we saw the bitcoin price reverse and correct from intraday highs to just shy of where we opened today's European session around 245 flat. So -....
It's been a few days since we published an article addressing the bitcoin price on a short-term basis over the last 24 hours or so, and in turn, our forecast for the coming European session. Since the beginning of the week, we've seen some pretty dramatic action in the BTCuSD, and a quick look at the 15 minute timeframe chart across the BitStamp exchange suggests that this is unlikely to change over the coming 24 hours. This does not mean, however, that there is not a viable set up from which we can draw profit from the fluctuations in the bitcoin price as we head into the European....
Bitcoin's price clocked two-month highs above $12,370 on Wednesday. The options market expects a continued rally.
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