Bitcoin Price Range Holds: Aggressive Range Trade a Possibility
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....
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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 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.....
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....
Earlier this morning, we published out twice daily bitcoin price watch piece, with a twist. We left it a little later to publish, with the goal of altering our strategy to accommodate a range trade approach, instead of our usual breakout strategy. Action has now matured, and the Asian session will kick off shortly. As we head into the beginning of the session, how has our strategy fared already today, and is it worth maintain this approach going forward? Take a quick look at the chart to get an idea of what we are watching tonight. As you can see, the levels we defined this morning as our....
In this morning's bitcoin price watch piece, we focused on the volatility we had seen throughout the Asian session last night. We noted that we would trade the range formed in the bitcoin price initially, but do so in anticipation of a larger, more pronounced move a little later on this evening. Action has now matured throughout the day, and as we head into the close of the European session, what are we looking to trade, and where will we define our risk in the event that we get our anticipated volatility? Take a quick look at the chart. As the chart above illustrates, the levels we are....