Bitcoin Price Watch; 600 in Play!

Here's a look at what we are focusing on in the bitcoin price this morning. In yesterday evening’s analysis, we noted that – as a result of the action we have seen over the last few days in the bitcoin price – the 1000 level might come into play it soon. We opined that it may take a week or so, but in an optimistic forecast, we also noted that if we saw a break to the upside, it could come into play much sooner than that. As things turned out, this latter suggestion has proven valid. Overnight action saw the bitcoin price run through our predefined resistance level, giving us an....

In this morning's bitcoin price watch piece, we noted the levels that we would be looking at for today's session. We slated quite a wide range (about $10 versus our standard $4-6) meaning we could bring our intrarange strategy into play, in combination with our standard breakout strategy. The European session has now matured, and as we head into a fresh Asian session this evening, what are we looking at and how did today's strategy play out? Take a quick look at the chart. As you can see, we have slightly altered today's range to accommodate the bitcoin price action seen during Europe. We....

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.....

Here's what we are focusing on in today's bitcoin price watch, for the morning session on Wednesday. Sometimes it can be difficult to transfer what would be a traditional charting pattern in another, more commonly traded financial asset, to the bitcoin space. The ebbs and flows on the narrower timeframes are a lot more volatile based on the thin (relative) liquidity, and this creates all sorts of issues as far as target placement, completion and risk management is concerned. This doesn’t mean, however, it’s an impossible task. We’ve successfully brought both the head and shoulders pattern....

Yesterday afternoon, we published our twice-daily bitcoin price watch piece. In the piece, we highlighted the levels that we would be looking at around evening during the Asian session, and suggested that - as a result of the widening of our regular parameters - we could probably get in and out of the markets according to our intra-range strategy. Action has now matured overnight, and - as we head into a fresh European session - what of levels that we are keeping an eye on in the bitcoin price today, and how can we try and draw profit from the market on the back of these parameters? Take a....