Bitcoin price Choppy: Action today could be volatile
In what has been a pretty volatile week for the bitcoin price, we have managed to get in and out of the markets according to our intraday strategy on a number of occasions. However, during yesterday's action, we were chopped out by considerably despite our tight scalp parameters. As we head into a fresh European session, will get a repeat of the action we saw yesterday, or will the bitcoin price slowdown heading into the weekend? Take a quick look at the chart below. As the chart shows, the levels we are watching today are in term support at 232.49 to the downside, and in term resistance....
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Here's a look at what we are focusing on in the bitcoin price this morning. Tuesday’s here, and as things turned out, we had a pretty interesting night’s worth of trading in the bitcoin price last night. Not because price moved considerably, or anything like that, but because we got some choppy action that fell in line with our breakout levels. Normally, choppy action is a real pain. It gets us into trades and then ends up taking them out again almost right away. That’s what stop losses are for, and it’s a pain but something we just have to accept. However, last night’s choppy action fell....
Here's a look at what we are focusing on in the bitcoin price this evening. The European session has now drawn to a close, and it’s time to take a look at the action we saw in the bitcoin price throughout the day, and see if we can use that action to put together a strategy for this evening out of the US, and beyond, into Asia. Once again, it’s been a pretty tough day. Last night we noted that we got taken out on choppy action by a stop loss hit on a short position. It wasn’t a crippling loss (that’s why our stops are in place, after all) but it was a bit frustrating as we are now net down....
Overnight action in the Bitcoin price has been pretty choppy. Having outlined our predefined range yesterday evening, we were hoping to be able to draw a profit from our intrarange strategy. We did reach support at the turn of the night, but broke through it ever so slightly to log a close below. This put us in a short breakout trade that, unfortunately, got stopped out an hour or so after entry. We are currently trading midrange on a slightly tightened range (which we will outline shortly), and plan to bring both our intra and our breakout strategy into play for today's bitcoin price....
Earlier on this morning, we published the first of our twice daily bitcoin price watch analysis. In the piece, we suggested that - as a result of the width of our predefined range - we would bring both our intrarange and our standard breakout strategy in to play. Action has now matured to the close of the European session, and we are about to head into Friday evening a a fresh Asian session. Many of the markets for the more traditional financial assets close over thanksgiving and the weekend, but not bitcoin. This means we can get our strategy in line for the weekend, and attempt to pull a....
Here's what we are focusing on after today's action in the bitcoin price. As far as rough days in the market go, this has been one of the worst. We noted in this morning’s bitcoin price watch piece that the action we’ve seen over the last few days in the market had been a bit difficult to trade. Action has been up and down, and pretty choppy, and it’s this sort of volatility that can sometimes be great, and sometimes torturous. We have managed to pull a couple of profitable trades out of this sort of bitcoin price action, but only by keeping our targets extremely tight and maintaining some....