Bitcoin Price Tests Resistance: Range Trade Potential
In yesterday's bitcoin price watch piece, we highlighted the levels that we were keeping an eye on in the bitcoin price throughout Thursday evening, and suggested a couple of the levels would be watching as we entered into this morning's session. We also suggested how we might respond to price reaching these levels, and presented our readers with a couple of trade entries and potential risk management parameters that would serve to offer us opportunity in the markets. Now action has matured overnight, what are the levels we are keeping an eye on in the bitcoin price, and how can we draw....
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In this morning's bitcoin price watch piece, we highlighted the levels that we would be watching throughout today's session, and suggested how we might respond to price reaching or breaking these levels as far as getting into a trade on our intraday breakout strategy was concerned. We noted that - despite some fundamental drivers out of Europe - the bitcoin price had remained relatively flat over the last few days, since its spike and decline on Sunday - Monday. So, with this said, what are the levels that we are watching during this evening's Asian session, did we get any action today....
Key Highlights. Dogecoin buyers trying their best to clear an important resistance area at 71.8 Satoshis. A broad range of 65.0-72.0 Satoshis as highlighted in the previous analysis continued to contain buyers and sellers. A break is must if we need to see some action in the short term. If you are considering to trade Dogecoin, then better wait for a convincing break above 72.0 Satoshis to enter a buy trade. Can it break higher? There was a large bearish candle formed on the hourly chart of Dogecoin recently, as highlighted in the weekly analysis. However, sellers failed to capitalize on....
Here's how we are approaching the final session of the week in the bitcoin price, and what we are looking to trade over the weekend. In this morning’s analysis, it looked as though we would be able to implement a pretty tight range and draw profit from any volatility on the breaking out of this range. Having widened this back out again to a more apt timeframe (when compared to yesterday evening’s session) we set up our parameters and risk management setting in anticipation of an entry. As things turned out, we did get an entry, but it didn’t work out exactly as we’d hoped. Take a quick....
In these bitcoin price watch pieces, it's not uncommon for us to trade a relatively tight range. Over the last week or so, however, we had quite a lot of volatility in the bitcoin price, and it has afforded us the opportunity to widen out our parameters a little bit and try out some intra-range trading. We did this overnight in the Asian session on Thursday, and as we head into a fresh European session today, let's try something similar. So, with this said, what are the levels that we are going to keep an eye on today, and how we going to look to trade bitcoin price as we head into the....
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....