Bitcoin Price Watch; Recovery Today?
The bitcoin price lost strength pre-market on Tuesday, but is it just a temporary decline? Yesterday we mentioned that, as a response to the tight, sideways action we had seen throughout the afternoon session in the bitcoin price, we would tighten up our range but set up against a possible sharp move on the back f price breakouts. As things turned out, we got just this move. Unfortunately, from a long term holding perspective, the move didn’t come in the direction we’d hoped. From action yesterday morning it was looking more likely that we would see 500 flat before we broke 400 again –....
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Here's a look at what we are focusing on in the bitcoin price this morning. OK, overnight action was a little strange last night. We saw price break through the level we had predefined as being one to watch in the early evening session, and managed to get in and out of the markets according to our intraday strategy as a result. However shortly after our trade closed out, the bitcoin price took a dive, and gapped down to fresh weekly lows somewhere in the region of 1010, or just a little lower. Just as price started to look as though it was set for a retest of the 1000 flat level, the spike....
At the end of last week, we published the second of our twice daily bitcoin price watch pieces. The main premise of the piece was that we had seen quite a lot of upside momentum and that there was every chance that we would see some selling pressure, as speculators took profits and price consolidated. Action has now matured over the weekend, and our thesis proved valid - with the bitcoin price reaching just shy of 462 flat and then correcting towards intraday lows of 425.43. From this level we have bounced a little, but still remain down on the overarching bullish momentum of last week.....
Last week, we got relatively little action in the bitcoin price as far as any discernible trend was concerned. Pretty much throughout the entire week we saw markets range up and down between predefined parameters, without really breaking out in any direction. However, over the weekend, we finally saw some action worth noting. Price looks to have made a medium-term recovery, and - with any luck - we can see a continuation of this recovery throughout today's European session and beyond. So, with this said, what are the levels we are keeping an eye on in the bitcoin price today, and where....
Earlier this morning, we published the first of our two bitcoin price watch pieces highlighting the downside break we saw in the markets overnight, and suggesting that - in response to the bitcoin price returning to trade within our predefined range - we would maintain the levels we had previously slated as the ones to watch for today's European session. Action has now matured throughout the session, and has been relatively lackluster from a volatility perspective. With this said, and as we head into the Asian session, here's what we are looking at tonight. Take a quick look at the chart....
Earlier this morning we published a bitcoin price watch article that outlined the approach we would be taking throughout today's European session. Action has now matured throughout the day and, as we head into the Asian session this evening, how did our strategy play out, did we manage to get in and out of the markets, and where will we be looking to implement our entries heading into the weekend? Take a quick look at the chart below. As you can see, today's action has been pretty much range bound, between the parameters we highlighted this morning as being the ones to keep an eye on.....