Bitcoin Price Watch - Downside Momentum Rules
Yesterday afternoon, shortly before the markets closed in the UK, we published our twice-daily bitcoin price action piece - with a focus on the key levels we would be looking at as we headed into the US afternoon session and beyond. Now action has matured overnight, we have seen some sharp movement in the BTCUSD, and we're looking at a fresh set of key levels during Friday's trading. With this said, what are the levels we are keeping an eye on, and how might we enter on a potential breaking of these levels. Take a quick look at the chart. As you can see from the chart, having traded....
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So for today's Asian session bitcoin price watch, we are going to tighten things up a little. A look at the daily chart in the bitcoin price reveals a few straight weeks of overarching bullish momentum, and while we would love this momentum to continue from a long term capital gains on our holdings perspective, its made us a little wary. We are approaching $300 flat, having broken to the downside through $200 last month, and if there was ever a time for a medium term correction, now is it. This doesn't mean the overarching trend is likely to change - simply that we will probably get some....
In this morning's bitcoin price watch piece we highlighted the levels that we were keeping an eye on throughout today's European session. Action has now matured throughout the day and - at a time when global markets are breaking to the downside - there has been plenty of volatility in the bitcoin price. As we head into a fresh Asian session, what are the levels we are watching tonight, and where will we be looking to get in and out of the markets according to our intraday strategy if we get a repeat of European volatility? Take a quick look at the chart. As the chart shows, action today....
Earlier this morning in our twice-daily bitcoin price watch piece, we suggested that the overarching momentum in the bitcoin price throughout the first half of this week has been to the downside. Perhaps it is due to speculation from a fundamental perspective, or perhaps it's just selling pressure that has arisen as a result of the sharp decline we saw over the weekend, but - whatever the reason - we explored the potential for further downside momentum throughout today's European session. The European session has now closed the day, and as it turned out, we did get some bearish action in....
Here's a look at what we are focusing on in the bitcoin price this evening. In this morning’s analysis, our primary focus was taking advantage of the volatility we expected to come after the action we saw last night. The bitcoin price has been relatively flat for the last few days, but overnight we saw this flat action breakout, and we finally got some momentum underway. During this morning’s European session, and as expected, this momentum continued to materialize. Price broke to the downside recently, and we managed to get in and out on a downside trade as per the levels we outlined this....
Yesterday afternoon, shortly before the markets closed in the UK, we published our bitcoin price watch piece highlighting the levels we would be keeping an eye on in the BTCUSD as the bitcoin price matured overnight. We've seen some considerable movement throughout this maturity, and our parameters - in terms of levels to watch - have changed. With this said, what happened overnight, and what will action around particular levels tells about a potential intraday bias as we head into a fresh day of trading? Take a quick look at the chart. As you can see, action in the bitcoin price overnight....