Bitcoin Price Intra-Day Reaction
Bitcoin price has made a tentative push higher in a densely packed curved price wave. The market is approaching a reaction zone and the negotiation should determine the next phase of trend. Increased buying volume during the past several hours is bring price towards its 200-hour moving average (200MA) in the Bitstamp chart. The 200MA is a critical watershed for trend, and until price has established above it, this may not be the best time to jump into the move. The stochastics (top) are overbought and diverging (red dots), and RSI is forming massive reverse divergence to price as the RSI....
Related News
As we mentioned in our last few bitcoin price watch analysis piece's, action over the past couple of days has been relatively muted. We have seen something of a stabilization following the volatility that we saw at the beginning of the week, and this has presented us with relatively few trading opportunities - at least as far as our scalp strategy is concerned. With this said, there is still an element of intra-range strategy that we can incorporate if things remain as are. So, as we head into Thursday evening, what are the levels we are keeping an eye on in the bitcoin price now, and how....
So for the past day or so we have been experimenting with a wider than normal range in the bitcoin price, with the goal of bringing our intra range strategy into play. Last night we got some pretty solid upside momentum, and saw this intra range play validated with a profit hit on our long trade during the Asian session. Action has now consolidated somewhat, and for today's session we are looking at bringing our breakout strategy back into play. As such, we are tightening up our range, and looking at some predefined key levels to give us our entry and exit points. Here's what we are....
In our intraday bitcoin trading over the last few weeks, we have outlined our ranges as being pretty tight. However, over the last few days, despite a few swift moves during the Asian sessios, the bitcoin price has remained pretty restricted within a five or six dollars range. As a result, we are going to tighten things up a little bit during this evening session, and try and bring an intra-range strategy into play. With this said, take a look at the chart below, and get an idea of the key levels we are watching as we head into tonight's Asian session. As you see, in term support sits at....
In this morning's bitcoin price watch piece, we pointed out that - due to a relative tightness of volatility across markets - we would press forward with our intra-range strategy and, in the event that any fundamental drivers gave us some momentum, look to enter on our breakout strategy only in this situation. Action has now matured throughout the day, and we have not really seen much movement in the bitcoin price, so, with this said, what are the levels that we are keeping an eye out for this evening, and where will we look to enter if we do get some movement? Take a quick look at the....
Here's what we are looking to trade this evening in the bitcoin price on Monday. When we published the first of our twice daily bitcoin price watch pieces this morning, we noted that – based on the volatility seen in the markets over the weekend – we would be a widen our standard range link in the region of $10 or $15, and in doing so, bring both our breakout and our intra-range strategies into play. We also highlighted a triangle that had formed on the 15 minute chart, and suggested that this triangle could represent a certain level of consolidation – and in turn – signal a return to the....