Bitcoin Price Takes out Target: Further Upside Tonight?
In this morning's bitcoin price watch piece, we published the levels that we would be keeping an eye on throughout the day's during Friday's European session, and suggested how we would respond to price reaching or breaking these levels as far as getting in according to our intraday strategy was concerned. The levels that we were keeping an eye on with 274.17 to the downside bringing us in term support, and 278.76 to the upside bringing us in term resistance. We suggested that an aggressive intra-range trade could be a bounce from current levels (which were around in term support at the....
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So this morning we published our twice daily bitcoin price watch piece, highlighting the levels that we would be looking at during Monday's European session. Action has now matured throughout the day, and as we head into a fresh Asian session this evening, what are the levels we are watching in tonight's bitcoin price market, and where will we look to get in and out according to our intraday strategy. Further, how did today's strategy fare? Did we manage to get into a trade, or has action kept us out of the markets? Let's take a look. First - have a glance at the chart below to get an idea....
So this morning we outlined our breakout strategy that we would be implementing during today's European session, with the key inference being that we would look for a return to the overarching bullish momentum and try and play an upside break on a medium term bullish target. Action has now matured throughout the day, and as we head into tonight's Asian session and beyond, how did we fare on our strategy, did we manage to get in and out of the markets according to our predefined key levels, and what are we looking at tonight? Further, what are our medium term expectations for the bitcoin....
Here's what were looking at tonight in the bitcoin price for our breakout strategy. In this morning’s bitcoin price watch piece, our primary focus was on the upside momentum we saw throughout the evening and Asian session on Tuesday, and how we could interpret this action as far as gaining insight into today’s volatility was concerned. We noted that – since we had seen some pretty sharp movements overnight – we may see a consolidation of the upside run this morning, as speculators took profits on their long entries. As things turned out, our expectations for some consolidation proved....
Once again we've had a bit of a wild day in the bitcoin price. Having consolidated overnight in response to yesterday's collapse, the bitcoin price found intraday lows at 348.59. From this level, today's action has seen a rise up and through the level we predefined as this morning's resistance, 356.58, and put us in a long trade towards 365.84. In light of this, we wont be initiating any fresh positions until this one closes out - either through the hitting of our stop loss or our predefined target at 368.54. For those not yet in a trade, however, here are the levels to keep an eye on....
Here's what we are looking at for tonight's bitcoin price watch, with a focus on our standard breakout strategy against a slightly altered framework. So the European session has now come to an end in the bitcoin price, and it’s time to publish our take on what action throughout today’s session suggests about what we are looking at for tonight’s session. It has been a pretty interesting 24 hours, with action overnight kicking off the beginnings of what turned out to be a pretty large, sustained upside move – and in doing so – giving us a couple of nice opportunities to get in to the upside....