Bitcoin Price Watch; Pushing Forward Towards 600
Here's a look at what we are focusing on in the bitcoin price this morning. The end of the week is the here, and it is time to take a look at the bitcoin price for the penultimate time this session. As far as the week just gone is concerned, we had some decent opportunities to get in and out of the markets according to our intraday strategy, and we’ve also been taken out of a couple of trades for a stop loss hit on some choppy momentum. We are heading into the final session for the week, and with any luck, we can maintain this position going into the weekend. So, let’s get to the details.....
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Bitcoin is now pushing its way through arc resistance in several timeframes. I think it is reasonable to assume that it will soon get through the arcs to close on the sunny side, giving us buy signals once again. Here is a 4-hour chart: As you can see, in this setup it was the top of the 4th square that knocked price for a loop several days ago. But the chart found support at the 3rd arc, retraced back to the 4th arc, faltered for a bit, but is now pushing through. Of course, it is possible that the 2nd arc of the pair will knock it back down, but that seems a bit unlikely. Far more....
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 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....
Here's a look at what we are focusing on in the bitcoin price this evening. So here goes, our final bitcoin price analysis of the week. It has been a pretty busy week, as we noted earlier today, and one that will likely end up influencing our trading for weeks to come. Why? Because action has been so volatile that it has carved out numerous key levels, and we can use these key levels to carry forward into our trading throughout the remainder of January. Exactly which of them will become effective remains to be seen, but no doubt some of them will, and when they do, we will be ready to take....
A little earlier on today, we published our twice daily bitcoin price watch piece. Based on the success of yesterday's intra range approach, we suggested we would look to incorporate two separate strategies into today's trading, and enter according to our key defined levels if either of the strategies afforded us an opportunity. Now action has matured over the European session, and as we head into the Asian session and, beyond that, the weekend, what are the levels that we are keeping an eye on - and can we move forward with both strategies? Take a quick look at the chart. As you can see,....