Bitcoin Price Watch; A Strange Night’s Action
Here's a look at what we are focusing on in the bitcoin price this morning. It’s been a bit of a strange night of action in the bitcoin price overnight during the Asian session, and we are heading into the European open on the back of what turned out to be some pretty unpredictable action. Price traded up sharply around the turn of the night, before correcting to trade sideways for a little while, and then, after some consolidation, dropped again to carve out fresh intraday lows. From these lows, we saw a bounce, and the bounce has given us a nice range with which to play with during....
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Here's a look at what we are focusing on in the bitcoin price this morning. Tuesday’s here, and as things turned out, we had a pretty interesting night’s worth of trading in the bitcoin price last night. Not because price moved considerably, or anything like that, but because we got some choppy action that fell in line with our breakout levels. Normally, choppy action is a real pain. It gets us into trades and then ends up taking them out again almost right away. That’s what stop losses are for, and it’s a pain but something we just have to accept. However, last night’s choppy action fell....
This afternoon’s analysis is going to be pretty straightforward. If you were with us a little earlier on this morning, and caught the first of our twice daily bitcoin price watch pieces, you’ll have seen our interpretation of last night’s action. Basically, and to quickly recap, we noted that the bitcoin price had reached its highest level in a while overnight, and as we edge up upon the 450 flat mark, we may see some consolidation, both as speculators take profits and as the psychologically significant levels weighs on bullish sentiment. Action has now matured throughout the morning....
Here's what we are looking at for today's bitcoin price watch strategy, with a focus on our breakout strategy. We’re a little bit late publishing the first of our two intraday bitcoin price analyses today, primarily as a result of the action we saw both overnight and throughout the initial phases of this morning’s session. Generally, we like to put our first interpretation of the night’s action out sometime around the kick of of the European and UK sessions (i.e. in line with traditional asset market open on those days). Today, however, we got a big move just prior to these openings, and....
Here's what we are focusing on this morning in the bitcoin price. In last night’s bitcoin price watch analysis piece, we highlighted a range that was quite a lot wider than those we have looked at across the last few weeks. This was in response to the volatility we saw over the weekend, and the opportunity this afforded us for an intra-range approach, rather than just our standard breakout strategy. Overnight, action didn’t mimic the volatility that we saw on Sunday, and pretty much just trended within the range we had predefined. Admittedly, it was a wide range, so it was optimistic to....
Here are the levels we are looking to trade in the bitcoin price this morning out of Europe. In yesterday evening’s analysis, our primary focus was a relatively tight scalp range, and more specifically, how we would approach our intraday strategy using this range in order to take advantage of any overnight volatility. We suggested that – as a result the large decline we saw early yesterday morning – action might consolidate somewhat, and in doing so, prime itself for a relatively sharp move. Action has now matured overnight, and with the bitcoin price being so up and down across the last....