Bitcoin Price Watch; Upside Scalp Trade
It’s been a tough first half of the week this week, and last night’s action continued this trend. First we fell foul to a misplaced target on a head and shoulders short (which we talked about in yesterday’s analysis) and then we got chopped out of a short term scalp for a few dollar loss. Yesterday, in light of the recent action, we tightened up our parameters and looked at bring a single breakout approach into play. Tight targets and tight stops meant we didn’t have too much exposure on our entries, but this doesn’t make returning money to the market any easier, and return money to the....
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A scalp pattern has presented itself in the bitcoin price, here's how we are looking to trade it. For this evening’s analysis, we’re going to go at our bitcoin price strategy a little different than normal. A look at the cart below reveals the formation of an upward sloping triangle during the European session, and this has offered up an opportunity to scalp the markets. We can still define a range for the longer term breakout approach, but a few dollar scalp is always a nice quick turnaround position, so as we head into the close of the European session and move into the US afternoon,....
Here's what's on in the bitcoin price for today's European morning session. Let’s start off today’s first bitcoin price watch analysis with a chart. The chart below is a fifteen-minute candlestick chart that shows the last forty eight hours of price action, and has the framework we outlined in yesterday evening’s analysis still overlaid. As you can see, price just recently broke through the level we had slated as in term resistance, which put us in a long trade towards an upside target of 425. Unfortunately, however, while we did see something of a sustained run to the upside, price only....
Here's a look at what we are focusing on in the bitcoin price this morning. It’s Tuesday morning, and time to take the first of our twice daily looks at the bitcoin price. Yesterday we got chopped out on a false breakout, but overnight we managed to draw a small profit from the markets on a scalp trade on the short side. Today we are going to attempt to replicate our overnight success with a similar strategy. Specifically, outline a relatively tight range and look to get in on a short term scalp trade if price closes outside of the range, with a position in line with the direction of the....
Here's a look at what we are focusing on in the bitcoin price this evening. The European market is drawing to a close, and it is time to take a look at our second analysis of the bitcoin price for the day. Things have been pretty volatile, and we have managed to get in to and out of a downside trade based on action seen during the session. In this morning’s analysis, we outlined a relatively tight range, and set up with some ultra tight scalp targets both above and below this range. For a while after published the analysis, price traded relatively flat, ranging between support and....
Here's a look at what we are focusing on in the bitcoin price this evening We’ve spent the last week or so wishing for some volatility in the bitcoin price, and today we finally got some during the European session. Having outlined a triangle pattern earlier this morning, we set up against both sides of the market with the intention of getting in on the break of the triangle’s parameters. Initially, we got chopped out of an upside trade on what turned out to be a false break. Almost immediately, however, we got an opportunity to get in again, this time to the downside with the momentum....