Bitcoin Price Watch; Here’s Today’s Strategy…
So yesterday we noted that the bitcoin price was weaving its way through an upwards sloping channel, and further, that we would use this channel to help us figure out our strategy as we headed into last night’s Asian session. In traditional technical analysis when looking at equities, forex etc., a channel can mean two things. The first, that the price of the asset in question is consolidating after a particular move (in this instance, to the upside) as speculators take profits off the table. In this case, we generally see a resumption of the overarching trend (again, in this instance, to....
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It's a fresh week's trading in bitcoin, so here’s what we are looking at in today’s session. Yet again, we’ve had a pretty eventful weekend in the bitcoin price. We surmised that we might see some volatility on the Asian open, but actually ended up seeing the most volatile action early Sunday morning. Having gained throughout Saturday to overnight (and intraweek) highs just shy of 450 flat, price took a sharp hit to carve out weekend lows of 425.88 – a level that will feature in today’s trading strategy. Since these lows, we’ve been trending pretty steadily to the side, with what looks to....
Here’s what we are focusing on for this evening's session in the bitcoin price. The weekend is pretty much upon us, and with it, we are drawing to a close yet another week’s worth of action in the bitcoin price, Our trading has been relatively subdued so far, primarily as a result of the lack of any real sustained momentum in the markets throughout the early days of this week. This doesn’t mean we haven’t been able to get into any positions however. Today’s action brought with it some solid upside action, and we were able to get in long a little earlier on this morning (pretty much....
Just as we did last night, let’s kick things off with a chart. The chart below shows action in the bitcoin price across the last 48 hours or so, and has the levels that we outlined last night being the ones to watch still overlaid. As you can see from the chart, having picked up strength throughout the majority of the week so far, bitcoin looks as though it is going to be heading to the close of the week down on its opening. Overnight saw a considerable and sustained sell off, and price carved out fresh weekly lows at just ahead of 436. Action over the last couple of hours has corrected....
Here’s what we are focusing on for this morning’s session in the bitcoin price. It’s Friday morning, and that means we’ve come to the penultimate of our twice-daily be quite bitcoin price watch pieces for the week. Despite having a pretty volatile weekend last week, price throughout the majority of this week has been pretty stable, having ranged between a relatively tight and constrained set of parameters to this point. Action overnight gave us a little bit to look at, however, and we now have a fresh and very tradable range heading into this morning’s session. So, as we get going, here....
Here's a look at what we are focusing on in the bitcoin price this morning. So here we go, off for the last day of this week’s worth of trading in the bitcoin price. Throughout this week we managed to get some pretty decent action, and this allowed us to pull out a decent batch of market profits. For the final day of the week, we’re hoping for much of the same. Things have been relatively volatile overnight, and this bodes well going forward for today’s session. Even if it doesn’t suggest volume, it gives us some nice well defined levels to go at, and these levels can be easily....