Fresh Highs in the Bitcoin Price: Bullish Momentum Signaled!
Yesterday afternoon we published a piece outlining the day's action in the bitcoin price and our forecast for BTCUSD as we headed into the close of the European session and beyond. We slated two potentially conflicting biases, and suggested the levels to keep an eye in both scenarios. As action matured, the bullish variant was validated, and we saw fresh weekly highs reached around 6pm GMT yesterday evening. This said, what are we watching now, and what do we expect from the bitcoin price as we head into the weekend? Let's take a look. As mentioned, we saw some upside momentum in the....
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Over the last few weeks, our strategy when it comes to trading the bitcoin price has been incredibly effective. Buoyed by the bullish momentum, our approach has seen us take out a number of key resistance levels to bring us to where we currently trade - just shy of 340 flat and hitting fresh annual highs with each day's action. As we head into a fresh European session today, the question becomes can this momentum continue, or are we likely to see a correction near term? Oftentimes, when the price of an asset increases at this sort of pace, we see participants booking profits and - in turn....
Litecoin broke above a narrow consolidation during the April 22nd session and headed to 1.48 before stalling at the start of the April 23rd session. Let's go over the 1H and 4H charts to monitor the bullish attempt. Litecoin (LTCUSD) 1H Chart April 23. As price retreated ltcusd found support at 1.44. So far, the bullish technicals in the 1H chart are intact:1) The moving averages have started to slope up and have formed a bullish alignment, with the 50-hour above the 100-hour, above the 200-hour SMAs. 2) The RSI has broken above 70, which signaled the initiation of bullish momentum. But it....
Bitcoin price got a boost from fresh concerns in the UK financial sector, leading traders to price in more uncertainty. Bitcoin Price Key Highlights. Bitcoin price appears to be showing a return in bullish momentum as it bounced off a nearby support zone. Bitcoin seems to be on track towards climbing to the top of its ascending channel on the 1-hour time frame. For now, price is still hovering around the mid-channel area of interest, waiting for a stronger surge in bullish momentum. Technical Indicators Signals. The 100 SMA is still above the 200 SMA so the path of least resistance is to....
Shortly before the European markets closed on Monday afternoon, we published this piece, highlighting the day's bullish action and hinting that there could be further bullish action to come, providing the upside momentum held firm. Throughout the US afternoon session, and into late Monday evening GMT, we saw this bullish action materialise, with the bitcoin price trading to fresh monthly highs just ahead of the revered 300 level. From these highs, we have seen a small correction, but a look at the chart offers up no reason why we can't see further gains during Tuesday's European session.....
Yesterday evening we published our thoughts on the bitcoin price movement we had seen throughout the day on Tuesday in our twice-daily bitcoin price watch piece. We noted that there has been a considerable amount of upside momentum throughout the day, and that managed to enter and exit on this momentum to draw profit from the market according to our intraday scalp strategy. Now action has matured overnight, and the European session is about to kick off for a fresh day of trading, what are the levels we are keeping an eye on now, and where will be looking to enter on today's action? Take a....