Bitcoin Price Watch; Looking Long!
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....
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Here's what we are looking to trade in this evening's bitcoin price on Friday. In this morning’s bitcoin price watch analysis, we suggested that we would like to see three things this by afternoon. First, a successful completion of our ongoing long trade. Second, a breakout on which we could get into a position, with the assumption being that this would be a long position and an upside break, if we were also going to fulfill item one. Third, a sustained move I the direction of our entry that would see us hit our target, and take us out of the trade for a profit as we headed into the....
Here's a look at what we are focusing on in the bitcoin price this morning. Whatever your political persuasion, last night was a long night, and is likely still continuing for many across the US. Celebrations, commiserations, whatever is in order, we’re going to inject a dose of normality and stability in to your day with the first of our twice daily bitcoin price watch analyses right here. For those that couldn’t bear to watch, we’re going to spoil it for you now – Trump won. What that means for the bitcoin price remains to be seen. My initial thoughts right off the bat are that we will....
Here's what we are watching in the bitcoin price for the Wednesday morning session... In our discussions on the bitcoin price, and our trading of it, on Tuesday, we noted that the action we had seen across the last couple of days was pretty flat. In response, we said we would trade a very tight range in the hope of getting in on a breakout entry, and that we would go for some equally tight scalp targets on the positions we took. Action yesterday afternoon put us long on a break of resistance at 422, and we targeted an upside of four dollars towards 426. We didn’t get the sustained run we....
Here's a look at what we are focusing on in the bitcoin price this evening. As far as rough days in the market go, this has been one of the worst. We noted in this morning’s bitcoin price watch piece that the action we’ve seen over the last few days in the market had been a bit difficult to trade. Sideways action dominated, and the only real movement we saw were spikes in and out of the ranges we defined. We have managed to pull a couple of profitable trades out of this sort of action, but only by keeping our targets extremely tight and maintaining some even tighter risk management....
The Bitcoin price continues its long steady decline. Last week we said: “Bitcoin price has continued experiencing downside pressure and as of this writing the price looks headed for a retest of the 200 area. Last week’s recap: If US$240 doesn’t hold, the US$220 area could provide minor support, but U$200 would more likely be an area to watch for bigger support. If it fails to hold, a retest of the lows (US$165-180) will certainly be the next area to watch […].” The price proceeded downward as we stated to reach US$210 before it rallied back up above minor support at US$220. As of this....