Bitcoin Price Holds Range: What's Next?
Earlier this morning we published a piece highlighting the overnight action in the bitcoin price, and offering up our predictions as far as what levels we should be watching, and what the reaching of these levels would infer about the likely future direction of the bitcoin price as we mature to through the European session. Now, as the European session draws to a close, what has action today told us about the bitcoin price, and what should we be looking at as we head into both the US afternoon and overnight in Europe? Take a quick look at the chart. As the chart shows, the BTCUSD has held....
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Litecoin fell more than 5 percent over the weekend as weakness returned to haunt the cryptocurrency markets. The Bitcoin market is also struggling to cope with the selling pressure and has returned to its crucial support of $220. Litecoin is currently trading at $3.330 and is well within its medium term trading range. In the previous Litecoin price technical analysis Sell on Rallies, we discussed how Litecoin remains weak and any rise in the valuation can be used to go short. That holds valid for even today. The latest technical indicators are nowhere positive or indicate that a reversal....
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....
This morning we suggested that - as a result of the action we had seen in the bitcoin price over the weekend - we may finally get some movement during today's European session. Action has now matured, and as it turned out, we have pretty much just ranged sideways between the two levels we had slated as today's ones to watch. As we head into an Asian session this evening, do these levels still hold, and which of our two primary strategies will we be looking to use in order to get in and out of the markets accordingly? Take a quick look at the chart. As you see, 238.44 remains as in term....
In this morning's bitcoin price watch piece, we highlighted a few of the levels we were keeping an eye on as, and suggested how we would react to price reaching these levels as far as entering a trade was concerned. Now price action has matured throughout the European session, what are we looking at in the bitcoin price as we head into the weekend? Take a quick look at the chart. As the chart shows, very little has happened since this morning as far as price action is concerned. Our range holds, with 235.10 now acting as in term support and 239.68 - yesterday's high - offering us a....
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....