Bitcoin Price Watch; Breakout Scalps On Friday
Here's what we are looking at in the bitcoin price on Friday morning. As we’ve done a couple of times this week, let’s start off today’s analysis with a chart. The chart below is a fifteen-minute candlestick chart showing the action we saw in the bitcoin price overnight, and the framework from which we were executing our strategy overlaid. As the chart shows, action between our analysis publication and this morning’s session has been pretty volatile, but not in a great way. We’ve been chopped out a few times on the back of some false breaks, and a spike down into (and at one point out to....
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Here's what we are looking at for today's morning session - a return to breakout from yesterday evening's scalps. Yesterday afternoon, in the second of our twice daily bitcoin price watch pieces, we mixed things up a little bit. At time of writing we remained well within the range we had pre-slated as the one to watch for the morning session, and this gave us two choices. One, remain with that framework only (which, of course, wouldn’t have made for a particularly interesting evening’s worth of trading, or a particularly interesting analysis, for that matter); or bring a scalp strategy to....
Here's what we are looking to trade in the bitcoin price this afternoon. In this morning’s bitcoin price watch piece focusing on today’s session, we noted that as a result of action overnight, we would be tightening our range, and approaching the market with a pure breakout strategy (rather than a combination of our breakout and our intra-range approaches). Action has now matured across the European morning session, and we are about to head into the US afternoon and beyond that – into the Asian session tonight. With this in mind, and as we move forward into the aforementioned periods, what....
Here's what we are looking at in the bitcoin price this evening, breakout and intrarange. It’s been a pretty slow day in the bitcoin price space, and this has weighed on our ability to get into the markets. We had a pretty volatile end to last week, and some decent action over the weekend allowed us to draw some profit from a few positions, but the current action looks to be representative of the start of the week slumps we’ve seen across the last couple of months – range bound, no real breakouts, and when we do see a breakout, it doesn’t result in any sort of sustained momentum we can....
Here's what we are looking at this evening in the bitcoin price. We are about to close out on another day’s trading out of Europe in the bitcoin price, and once again, things have been relatively quiet. Action overnight last night left a lot to be desired from a volatility perspective, and we didn’t manage to get in to the markets according to either our breakout strategy or our intrarange strategy – despite the width of our predefined range. A look at today’s action reveals a remarkably similar pattern. After the sharp gains seen over the weekend and early in the week, price has run out....
A little earlier on this morning, we published our twice daily bitcoin price watch piece. In the piece we outlined the levels we were looking to watch in the bitcoin market throughout Friday's session, and stated that - if we got the volatility we were looking for - we would look to enter according to our breakout strategy in an attempt to draw a short term scalp profit on the action. Action has now matured throughout the day, and we are heading into the close of the European session and the beginning of the weekend. In the majority of other financial assets, markets would be pitching to....