Bitcoin Price Entry: Stop and Return
In this morning's bitcoin price watch piece, we published our thoughts on the action we saw overnight in the Asian session on Tuesday. We suggested that if we got a continuation of the bearish momentum that we saw during the session, it might give us an opportunity to get in short on the back of this momentum, and draw profit from the bitcoin price during Wednesday's European action. Action has now matured throughout the day, and - while we have seen some volatility - it has not entirely been in our favor. So, with this said, what are the levels that we are keeping an eye on in the bitcoin....
Related News
Bitcoin traders on the Bitstamp exchange platform may want to take note. New features are available that allow traders to better control their moves in the market: stop order and trailing stop order. And if you are like me (not a trader), you're probably asking yourself, what's a stop order and trailing stop order? Bitstamp explains: An order to buy or sell bitcoins when its price surpasses a particular point, thus ensuring a greater probability of achieving a predetermined entry or exit price, limiting the investor's loss or locking in his or her profit. Once the price surpasses the....
In what turned out to be a pretty unfortunate setup, we entered last night on a breakout to the downside through in term support, with an initial target of 215 flat. This was a target we had predefined, and our entry included a top loss at 322 flat - approximately half of the reward we we looking to capture on the short trade. Having broke support, the bitcoin price ran down towards our target, but at pretty much 317 exactly reversed and quickly changed tact to return to trade within range, and take out our stop in the process. This is, of course, the reason we have stops in place, and the....
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 a look at what we are focusing on in the bitcoin price this evening. Right now we are in a live trade in the bitcoin price. Action earlier today broke through our predefined in term support level, and we got in to a short entry towards an immediate downside target of 720 flat. We pretty much hit the target about an hour ago, but the nature of bid-ask means we’ve got to run through it a little bit before our take profit is activated, and price bounced just a few cents short of this threshold. We now trade pretty close to entry, and are flirting with a stop loss hit if things don’t....
On 17th March, Coinbase made the announcement that they were introducing stop orders to their Coinbase Exchange service, via a post on the Coinbase blog. Stop Orders Limit Losses. Investopedia defines a stop order as “an order to buy or sell a security when its price surpasses a particular point, thus ensuring a greater probability of achieving a predetermined entry or exit price, limiting the investor's loss or locking in his or her profit.” In the context of Bitcoin, “stop orders allow customers to buy or sell Bitcoin at a specified price. This order type helps traders protect profits,....