Bitcoin Price Rockets: Correction Ahead?
Towards the end of last week, we published a piece highlighting the upward sloping channel that formed in the bitcoin price and the breakout we expected to take place shortly before we close for the weekend. A look at the bitcoin price chart that details weakened action, and we can see that this breakout validated, and offered up a medium-term bearish bias in the BTCUSD. This said, what are the levels to keep an eye on as we head into a fresh week of trading? Take a look at the chart. As you can see, we are currently trading just ahead of 291 flat, having sustained a sharp and consistent....
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Last night we published our second of our twice daily bitcoin price watch pieces ahead of the Asian session. The primary thesis behind the piece was that we would be tightening up both our range and our risk parameters, with the goal of reducing our exposure to any correction in the bitcoin price overnight while also leaving us open to draw a profit from any action. Price has now matured across the session, and we are now mid way through Thursday's European trading. So, at this point, how did price fare overnight, did our strategy get us in and out of the markets as a response 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.....
Here's what we are looking at in the bitcoin price for today's session. We are right at the beginning of a fresh week’s worth of trading in the bitcoin price, and it’s looking like we might get some interesting action going forward. Volume was pretty low across the weekend, but we still saw some volatility, and were able to get in and out of the markets according to our intraday strategy and draw a profit from the action. Ahead of this morning’s open, the bitcoin price gained to fresh highs just shy of 422 before correcting to close the gap on the gains we saw at the beginning of the....
Bitcoin price has thus far made a 7% intraday move following news that a US court ruled in favor of Grayscale against the SEC. At the same time, the stock market is surging. Could a perfect storm for the top cryptocurrency by market cap be building? Back At $28,000: Grayscale Court Ruling Causes BTC To Bounce In an asset class as volatile as crypto, prices — and moods — can change in a flash. That’s exactly what we’ve witnessed on a small scale today, moments after news broke that a US court is forcing the SEC to reconsider Grayscale’s Bitcoin ETF. Related Reading: BREAKING: Grayscale....