Bitcoin Price range Holds: Aggressive Short Entry Potential
Earlier this morning we published our twice-daily intraday look at the bitcoin price, and suggested a few of the levels that will keep an eye on as action matured throughout Wednesday's European session. Primarily, we outlined three potential scenarios. The first was a break of resistance and a run towards a medium-term target of 245.05. The second was a break of support and run down towards 238. A third, and the one that has actually occurred, was a holding of the range between 240 and 243, and a continuation of the range bound action we saw overnight. Now we are drawing to a close in the....
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Earlier this morning we published our twice-daily bitcoin price watch analysis piece. We highlighted a few of the key levels that we would be keeping an eye on in the bitcoin price throughout today's session, and suggested some the primary targets we would be looking at if price reached or broke through these levels. Oftentimes we trade a pure breakout strategy - i.e. waiting for price to breach in term support or in term resistance (to the downside and upside respectively), but with the recent range bound action and the relatively wide range we have seen, it has been possible to place....
This morning we published the first of our twice daily bitcoin price watch pieces, and noted that - as a result of the relatively tight range we were looking at - we would steer clear of our intrarange strategy in favour of our standard breakout approach. We also suggested, however, that a more aggressive trader might want to look at incorporating intrarange action into their approach if we saw a correction from resistance, or a bounce from support. Action has now matured throughout the European session, and as it turned out, the more aggressive approach looks to have been the one to take.....
Shortly before the markets opened in Europe this morning, we published our twice-daily bitcoin price watch piece here on NewsBTC. In the piece, we suggested that - with the recent volatility we had seen in the bitcoin price over the weekend - we could benefit from adapting our traditional intraday breakout strategy to take advantage of an intra-range entry, as defined by both in term support and resistance. We also highlighted the potential for a breakout entry, and suggested that - according to the same levels we were watching for our intra-range entries - we could get long or short if we....
Bitcoin rises more than 2 percent to $430.21, nearing our year-end target of $440. In the previous price technical analysis A No Trade Market, we mentioned that an increasing MFI often causes price appreciation, and we are witnessing just that. The question now is: Would bitcoin be able to extend the gains or will it retrace its steps? Let us try to predict this with the help of technical analysis conducted on the 240-minute BTC-USD price chart. Bitcoin is well poised to increase its duration inside the $400-440 range, at least for the next couple of sessions. There is a high probability....
In yesterday's bitcoin price watch piece, we outlined our intraday strategy according to an altered approach. We suggested that - as a result of the relatively consistent fluctuations in the bitcoin price over the last few days, we would widen out our range a little and trade long from support and short from resistance, in an attempt to draw profit from intra range volatility. The strategy paid off and, as a result as we head into today's European session, we will incorporate the possibility for a range trade into today's plan of attack. So, with this said, here are the levels we are....