Bitcoin Price Watch; 600 Broke, Profit Taken!
Here's a look at what we are focusing on in the bitcoin price this morning. So this morning we are going to go for something a little different. Over the last couple of weeks we have primarily been focusing on horizontal range bound trading, with a few breakout entries whenever we saw some volatility. This has been a decent strategy, and one that we are going to maintain going forward, but a classical pattern (well, sort of) has formed overnight, so we are going to shuffle things around a little and attempt to trade the pattern before we return to our standard approach. The pattern in....
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Here's a look at what we are focusing on in the bitcoin price this evening. In this morning’s bitcoin price watch analysis, our primary intent was to get across the importance of keeping things tight during the European session. Price has struggled to make any sort of sustained moves over the last few days, and while we have seen the odd spike, there has been no real trend momentum. The only way we are able to draw a profit from these sorts of market conditions is through a tight scalp strategy – that is, jumping in and out of the markets on the spikes and taking advantage of the action as....
A little earlier on this morning, we published our twice-daily bitcoin price watch analysis piece. In the piece, we highlighted the levels that we would be watching throughout Wednesday's session, in the hope that we could draw a profit from the bullish momentum we have seen in the bitcoin price as late. As it happens, we did get a break out, but we have now returned to trade within the range that we had slated as the one to watch this morning, and it looks as though we may see a temporary reversal of the current action. So, with this said, what are the levels that we are keeping an eye on....
Here's what we are focusing on for this evening's session in the bitcoin price. In this morning’s bitcoin price watch article, the framework we placed over the market involved two primary elements. The first, an upward sloping triangle. This offered us an opportunity to enter short, if price broke through it. The second was a more traditional range, with our entry points defined as a break and close above or below resistance and support respectively. Action has now matured across the bitcoin price session, and we’ve had plenty of volatility to discuss in this evening’s analysis. So, here....
Here's a look at what we are focusing on in the bitcoin price this evening. The European market is now closed, and it’s time to take a second look at the bitcoin price for today. In this morning’s analysis, we highlighted a range of around six dollars width, and suggested that we would focus on breakout scalp trades if priced managed to clear the range. Action has now matured for the day, and we did manage to get into one of these trades. The chart below highlights today’s action, and we have left this morning’s range highlighted in green so as to illustrate the trade. As the chart shows,....
Here are the levels we are focusing on for this evening's intraday breakout strategy in the bitcoin price. In this morning’s bitcoin price watch piece, we highlighted a very tight range in an attempt to draw a profit from our breakout strategy on tight volatility. We had in term resistance at 418 flat, and shortly after publication bitcoin broke to the upside through this resistance, and put us long towards an upside target of 421 flat. Shortly after the break, we broke back within range, but managed to avoid a stop loss hit and again broke to the upside. Since this, however, we’ve been....