Bitcoin Price Ranges: Upside Breakout on the Cards?
Earlier this morning we published our pre-session bitcoin price watch piece. We suggested the levels to watch in the bitcoin price throughout today's European session, and pointed out that we had finally seen some action in the bitcoin market over the weekend, and that we would be looking to draw on this volatility to get in and out of the markets today. Action has now matured, and as we head into the Asian session this evening - what are the levels that we are watching tonight, and are we looking at a range bound, or breakout strategy going forward? Let's take a look. First, consider the....
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Here is our slightly altered (but hopefully just as effective) bitcoin price watch intraday strategy for Friday's European session. Those who have followed along with our bitcoin price watch pieces over the last few weeks will have noticed a common thread running through our strategy. We’ve been defining relatively tight ranges and skipping in and out of the markets with these ranges on breakout scalp trades. It’s been somewhat effective but there have been some pretty frustrating periods through which we’ve had to sit and stay net flat in the markets. Well, to mix things up a little....
Here's a look at what we are focusing on in the bitcoin price this evening, with a look at one of our live trades. The markets are about to draw to a close in Europe, and it’s time to take our second look of the day at the bitcoin price. Things have been pretty up and down over the last twenty four hours or so, and we’ve been going at the markets with a pure scalp breakout focus. Intrarange hasn’t really been an option based on the narrow predefined ranges we’ve been working with. Action today hasn’t disappointed, and we’ve managed to get in to a long entry based on a break and a close....
Here's the range and targets we are focusing on for our bitcoin price breakout strategy on Wednesday morning. Yesterday was a little up and down in the bitcoin price. We saw a steep upside run early morning (before the European session kicked off for the day) and then a pretty ragged period of consolidation. By the time we published our first price watch analysis (a little bit later than usual) we were well into the consolidatory phase, and looked to set up a framework through which we could get in long if the bullish momentum returned, and things took another turn to the upside. We got a....
Bitcoin price made an upside breakout from its long-term consolidation pattern, signaling that it's ready to go for more gains. The 100 SMA is above the 200 SMA, confirming that the path of least resistance is to the upside and that further gains are in the cards. However, the gap between the two moving averages is narrowing so a downward crossover might eventually take place. Stochastic is already indicating overbought conditions so buying pressure could weaken soon. RSI is also moving close to the overbought region, which means that buyers might need to take a break and let sellers take....
Bitcoin price is settling inside a range but technical indicators seem to be hinting at an upside breakout. Bitcoin Price Key Highlights. Bitcoin price has been moving sideways on the slowdown in volatility, stuck in a range between support at $575 and resistance at $590. Price appears to be bouncing off the top of the range once more, gearing up for another test of support. However, technical indicators are suggesting that a breakout could take place. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA on this time frame, signaling that the path of least....