Bitcoin Price Live Trade: Target Hit!
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....
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Here's what we are looking at for today's European morning session in the bitcoin price, and a look at a live trade we entered last night. So today we’re going to mix things up a little bit and kick off this analysis with a chart. The one below shows action overnight in the bitcoin price, and illustrates a long trade that signaled entry during early Asia, and one which we currently hold as a live position. As the chart shows, we got in on a break of the level we slated as in term resistance in yesterday’s second analysis, and initially saw the bitcoin price run up towards our predefined....
Today's action in the bitcoin price has - once again - brought with it some surprising momentum. We started off the day down and expected to get some sort of correction. In light of this expectation, we teed up our key levels and put our breakout strategy to work. Action has now matured throughout the day, and as we head into a fresh Asian session this evening, what are we looking at, and where will we look to get in and out of the markets if the volatility continues? Further, what did today's action bring us as far as getting into a live trade was concerned? Take a quick look at the....
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....
Here's what's on in the bitcoin price for tonight's European evening session, and a look at a live trade we are tracking. Just as we dud this morning, let’s kick off this evening’s analysis with a chart. The fifteen-minute candlestick chart in the image below highlights the action seen in the bitcoin price across this morning, and early afternoon’s, session, and retains our predefined range on the overlay. As the chart illustrates, price broke through our predefined resistance level shortly after lunch in Europe, and after an initial spike, has managed to maintain its level above broken....
Here's an update as to the progress of an ongoing live trade, and a look at a framework for bitcoin price trading this evening. To kick of the day’s second analysis, we’re going to start with a chart. The image below shows the framework we placed on the bitcoin price earlier this morning, with an overlay of action seen across the last five or six hours. As the chart shows, the bitcoin price broke through our predefined in term resistance level shortly after publication, and has since continued to trend upwards towards our target of 412. It’s a pretty aggressive target on the intraday....