Bitcoin Price Watch; Patience, Patience…
Here's a look at what we are focusing on in the bitcoin price this evening. Our analysis of the bitcoin price on an intraday basis is becoming relatively monotonous. We define a range in the morning, look to trade that range throughout the session that follows, be that intrarange or on a breakout strategy, and then evaluate the day’s trading come evening time. This evaluation makes for interesting reading if a) we have some trades to look over and discuss and b) we can use the action seen throughout the day’s session to put together a strategy for the evening’s trading. Unfortunately, for....
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Here's a look at what we are focusing on in the bitcoin price this morning. Overnight action in the bitcoin price was a little strange. Before the European session shutdown for the evening last night, we published the second of our twice-daily bitcoin price watch pieces, and in the piece, we highlighted what we thought was a relatively tight range as being one to watch from a breakout perspective. Because the range was so tight, we decided not to go at price with an intrarange approach, and – early evening – this seemed to be a solid strategy. We didn’t manage to get into any trades, but....
Here’s what we are focusing on for this morning’s session in the bitcoin price. As a result of the pretty lackluster bitcoin price action we have seen across the bitcoin markets over the last few days, these analyses are probably getting pretty tedious for some. Indeed, the ability to stay out of the markets and not enter trades based on our standard strategies is similarly tedious. When we entered the week, we did so off the back of some large upside gains initiated over the weekend on high volume. This suggested that we would see a pretty volatile week, and gave us plenty to look forward....
Here's what we are looking to trade in today's bitcoin price market. Breakout strategy, targets and risk annotated. Well, we’ve finally gotten some volatility in the bitcoin price. Not exactly the type we’d hoped for from a long term perspective, but it’s given us an excuse to get in to a couple of positions overnight and that’s done enough to abate the patience issues we discussed in yesterday morning bitcoin price watch analysis. How things will play out today remains to be seen, but with the bitcoin price having wound up in a consolidatory phase for nearly a full week (if we include the....
According to this pseudonymous analyst, the second leg of the bull market is still far ahead. And we’ll all need patience to get there. Using the Sentient Trader technical analysis software, Charting Cycles predicts that we’re still at least a couple of months away from the end of the… cycle. We haven’t put the 18 […]
We're mixing things up a bit for this afternoon's session in our intraday strategy. Here's how. Patience is a key component of any financial asset trading strategy, and the last 48 hours or so have demanded plenty of it. Aside from the early morning breakout that reversed and took out our short position for a loss (the one we discussed in this morning’s bitcoin price watch article), we’ve had tow days of pretty flat trading, and no real entry points to speak of. Of course, when it comes to detailing this sort of analysis, to keep reiterating the same key levels doesn’t make for....