Bitcoin Price Watch: Our Response to Recent Action
Throughout the majority of May and June, getting in and out of the markets according to our intraday strategy and taking a profit from volatility in the bitcoin price was relatively simple. Sure, we were stopped out on a number of occasions, and every trade wasn't a winner, but we got enough up-and-down action to ensure that - regardless of the outcome - we were at least afforded a position. Over the last couple of weeks, however, volatility in the bitcoin price has been pretty flat and potential entries relatively non-existent. We have taken a position on a couple of occasions, but rarely....
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Earlier this morning, we published the first of our two bitcoin price watch pieces highlighting the downside break we saw in the markets overnight, and suggesting that - in response to the bitcoin price returning to trade within our predefined range - we would maintain the levels we had previously slated as the ones to watch for today's European session. Action has now matured throughout the session, and has been relatively lackluster from a volatility perspective. With this said, and as we head into the Asian session, here's what we are looking at tonight. Take a quick look at the chart....
A little earlier on this morning, shortly before the markets opened in the UK, we published our bitcoin price watch article addressing how we would response to price reaching certain levels throughout Tuesday's European session. The primary focus of the piece was the sharp decline we saw in the bitcoin price overnight on Monday, and the overarching bearish bias - on both a technical and fundamental level - that this forced us to accept. Now price has matured throughout the European session, and we are about to open on a fresh US afternoon. With this said, what has price action told us....
Here are the levels to watch in today's bitcoin price in order to draw a profit from any volatility across the European session. In yesterday’s analysis, we commented on the relatively slow week we had seen in the bitcoin price last week, and noted that – in response to the little bit of volatility we saw over the weekend – we expected some decent momentum to come our way during Monday’s session. As things turned out, we did see some momentum; not quite as dramatic as we’d hoped for, but momentum nonetheless, and we managed to get in and out of the markets for a quick profit on the....
Action has been a bit choppy in the bitcoin price over the last few days, but it hasn't stopped us drawing a profit from the market. Here's what we are looking at in today's European markets and beyond. Yesterday afternoon, our bitcoin price watch article highlighted a bunch of key levels, and in the article, we were able to define a classical pattern that suggested – from a technical perspective, at least – we were set for a continuation of the downside break we saw a little earlier in the day. A look at the action that succeeded our analysis shows a mixed response to our predictions. We....
In this morning's bitcoin price watch article, we highlighted the overnight action as a potential indication that we would see some extended volatility across today's European session. We outlined the levels we were going to focus on, and suggested a few risk management parameters. Action has now matured throughout the session, and as we head into tonight's Asian session and beyond, what are we looking at in the bitcoin price going forward, and where will we look to get in and out of the markets if price action affords us the opportunity? As ever, take a glance at the chart before we get....