Bitcoin Price Breaks: Return to Volatility!
Finally, it looks as though we are getting a return to the volatility we are used to in the bitcoin price. Over the last twenty four hours, action looks to have returned to the up-down momentum we have seen over the last month or so (with the exception of the last few days) and as a result, we are able to effectively bring our breakout strategy in to play. As we head into the European afternoon, where are we looking in the bitcoin price now, and how can we take advantage of the return to volatility in our quest to draw a profit from the bitcoin market this afternoon? Take a quick look at....
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Despite a relatively slow market over the past few weeks due to the “summer doldrums,” it now appears as though volatility is making a slow return on both the upside and the downside. With that in mind, the technicals remain key in this environment. Last week when we returned from the Labor Day holiday in the US, the Bitcoin markets decided to take a jaunt to the upside to test what has been heavy resistance in the $630 area for over a month. Despite staying elevated for the better part of the week, this weekend brought a round of technical selling which took the price from the mid-$620’s....
If you read this morning's twice-daily bitcoin price watch piece, will be more than aware that we address the relative inactivity in the bitcoin price we've seen throughout the last couple of weeks, and our resulting difficulty as far as getting in and out of the markets according to our intraday breakout strategy has been concerned. We've not really had enough volatility to reach our pre-slated targets, and have - as a result - we chopped out for small losses are a number of occasions. We hope that today's action would bring a return to the volatility we enjoyed over the last couple of....
Bitcoin price could be in for more volatility today as US traders return from their Fourth of July holiday. Bitcoin Price Key Highlights. Bitcoin price continues to trend higher, still inside its ascending channel pattern visible on the 1hour time frame. However, price seems to be stalling at an area of interest around the middle of the channel. If this holds as resistance, bitcoin price could be in for another test of support around $650. Technical Indicators Signals. The 100 SMA is still above the 200 SMA so the path of least resistance is to the upside. The 100 SMA lines up with the....
In yesterday evening's twice-daily bitcoin price watch piece, we suggested that we were looking for some volatility during the Asian session through which we could get in and out of the markets according to our breakout strategy. We also suggested that - if action did not present us with this volatility - we could incorporate our intra-range strategy to attempt to draw profit on a flat trade. Action has now matured throughout the evening, and - as we head into a fresh European session - what are the levels that were keeping an eye on the bitcoin price today, and what can we expect from....
Bitcoin looked poised for the return of at least some volatility last week, however none materialized. Now that price is back above the $600 level on what are still mixed technicals, we think another week or two of sideways chop is most likely in terms of price action over the short-term. Last week we made a point of discussing price volatility, or the lack thereof, because we thought there was a decent chance it could make a return to the Bitcoin markets in the not too distant future. Well, apparently we are not there yet given that the $590 support held over the weekend and we are now....