Bitcoin Price Watch; 412 Long, 400 Short
As the chart shows, the range we are looking at this morning is defined by in term support at 406.5 and resistance at 408.5. At the end of last week, we noted that much of the action over the last couple of months, i.e. the big moves that have shifted our fundamental bias, have come at the weekend. More specifically, during the Sunday session. This seems counterintuitive – in the more traditional asset markets Sunday is generally a closed out day – but the majority of exchanges in the crypto space operate non stop, so that we would get a bit of volatility ahead of the Asian open on a fresh....
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Here's the range and targets we are focusing on for our bitcoin price breakout strategy on Wednesday morning. Yesterday was a little up and down in the bitcoin price. We saw a steep upside run early morning (before the European session kicked off for the day) and then a pretty ragged period of consolidation. By the time we published our first price watch analysis (a little bit later than usual) we were well into the consolidatory phase, and looked to set up a framework through which we could get in long if the bullish momentum returned, and things took another turn to the upside. We got a....
A whole lot of Bitcoin holders have made bank on the cryptocurrency's recent meteoric rise. But is it possible to make money from a falling Bitcoin price? Well, it is now! But let's start at the beginning, by defining terms. In trading, a bet that price will fall is called a "short." This is the opposite of a "long," which is buying something in the expectation of a future price rise. Probably a lot of people reading this are long cryptocurrency, or at least thinking of going long. The old joke for people who've bet the farm on a long position is that they're "long like John" (Holmes, the....
Here’s what we are focusing on for this evening's session in the bitcoin price. In this morning’s article, the primary focus was the widening out of our bitcoin price range, and how we would use this wide range to trade an intrarange strategy. Ironically, it’s the first time we’ve done this in a couple of weeks, and it has gone against us. Normally, we implement a breakout strategy in anticipation of price breaking through our key levels and continuing as part of a sustained run in a particular direction – be that long or short. In this instance, however, we looked to trade on a correction....
Here's a look at what we are focusing on in the bitcoin price this evening. Well that’s it for another day, and the bitcoin price has not really moved across the entire session. We saw price dip below 800 temporarily, but it recovered quickly to current levels around four dollars clear of the threshold. Unfortunately for us, and as per the rules of our strategy outlined as part of this morning’s analysis, we got in short on the break and were quickly taken out of the trade as price returned to trade above 800 and took out our stop. This isn’t great, but its also not a huge issue. We’re in....
Here's a look at what we are focusing on in the bitcoin price this evening. It’s time to take our final look at the markets for the week. We’ve had a good week from a trading perspective in the bitcoin price, with action giving us plenty to go at on both the long and the short side. Price overnight last night was a bit rocky, with some choppy action making anything sustained pretty difficult. Action throughout today’s session has been a little more consistent, with price trending to the downside for the majority of the day. This is good as it gave us an opportunity to get in short on a....