Bitcoin Price Range Holds: Breakout Next?
This morning we published the first of our twice daily bitcoin price watch pieces, and noted that - as a result of the relatively tight range we were looking at - we would steer clear of our intrarange strategy in favour of our standard breakout approach. We also suggested, however, that a more aggressive trader might want to look at incorporating intrarange action into their approach if we saw a correction from resistance, or a bounce from support. Action has now matured throughout the European session, and as it turned out, the more aggressive approach looks to have been the one to take.....
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In this morning's bitcoin price watch piece, we focused on the volatility we had seen throughout the Asian session last night. We noted that we would trade the range formed in the bitcoin price initially, but do so in anticipation of a larger, more pronounced move a little later on this evening. Action has now matured throughout the day, and as we head into the close of the European session, what are we looking to trade, and where will we define our risk in the event that we get our anticipated volatility? Take a quick look at the chart. As the chart above illustrates, the levels we are....
Earlier this morning we published our twice-daily bitcoin price watch analysis piece. In the piece, we highlighted the levels that we would be keeping an eye on in the bitcoin price throughout Friday's European session, and suggested the response we would take to price reaching or breaking these levels as far as entering according to our intraday scalp and breakout strategy was concerned. As you will see shortly, action throughout today's session has been pretty lacklustre, and has remained to trade within the range that we outlined this morning. So, with this said, what are the levels....
In yesterday's bitcoin price watch piece, we outlined our intraday strategy according to an altered approach. We suggested that - as a result of the relatively consistent fluctuations in the bitcoin price over the last few days, we would widen out our range a little and trade long from support and short from resistance, in an attempt to draw profit from intra range volatility. The strategy paid off and, as a result as we head into today's European session, we will incorporate the possibility for a range trade into today's plan of attack. So, with this said, here are the levels we are....
Bitcoin price is settling inside a range but technical indicators seem to be hinting at an upside breakout. Bitcoin Price Key Highlights. Bitcoin price has been moving sideways on the slowdown in volatility, stuck in a range between support at $575 and resistance at $590. Price appears to be bouncing off the top of the range once more, gearing up for another test of support. However, technical indicators are suggesting that a breakout could take place. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA on this time frame, signaling that the path of least....
In this morning's bitcoin price watch piece, we highlighted a few of the levels we were keeping an eye on as, and suggested how we would react to price reaching these levels as far as entering a trade was concerned. Now price action has matured throughout the European session, what are we looking at in the bitcoin price as we head into the weekend? Take a quick look at the chart. As the chart shows, very little has happened since this morning as far as price action is concerned. Our range holds, with 235.10 now acting as in term support and 239.68 - yesterday's high - offering us a....