Bitcoin Price: Can Trade Hold $450?
Bitcoin price has drawn sideways around $450 (Bitstamp) for most of the day before making a rounded push higher. The decline may be over but additional price action is needed so soon after the strong upside reversal. The attached 15-minute chart shows price action since early May. A few chart annotations relating to previous analysis are visible, but today’s analysis focusses only on the drop since yesterday. It is unclear whether price has found support at the $450 level, and will now begin another slow push higher, or whether the sideways price action is setting up the next leg of....
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Here's what we are looking at for today's European morning session in the bitcoin price, and a look at a live trade we entered last night. So today we’re going to mix things up a little bit and kick off this analysis with a chart. The one below shows action overnight in the bitcoin price, and illustrates a long trade that signaled entry during early Asia, and one which we currently hold as a live position. As the chart shows, we got in on a break of the level we slated as in term resistance in yesterday’s second analysis, and initially saw the bitcoin price run up towards our predefined....
Here's what's on in the bitcoin price for tonight's European evening session, and a look at a live trade we are tracking. Just as we dud this morning, let’s kick off this evening’s analysis with a chart. The fifteen-minute candlestick chart in the image below highlights the action seen in the bitcoin price across this morning, and early afternoon’s, session, and retains our predefined range on the overlay. As the chart illustrates, price broke through our predefined resistance level shortly after lunch in Europe, and after an initial spike, has managed to maintain its level above broken....
We're switching things up a little for our last analysis of the week... Here's how. For our final analysis of the week, we’re going to mix things up and make this evening’s trading a little more interesting. This morning we noted that the likely best approach was going to be an intrarange one, based on the sideways trading we’ve seen in the bitcoin price since Wednesday evening’s decline. Action today, has vindicated this suggestion, by remaining well encased between the two parameters (support and resistance) that define today’s range. We got into a trade on a bounce from support a little....
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