Despite Bearish Price Action Over the Weekend, Bitcoin Remains in a Trading Range
Given a slow news cycle as well as mixed short to medium term technicals, the market has been under some pressure over the past few days following yet another failed attempt to break above $600. The slow grinding recovery from the Bitfinex debacle early last week has continued over the past several days as it now appears as though the exchange will continue to operate, at least for the time being. That said, the bulls did hit some turbulence late Saturday into Sunday as price began dropping from its $580 support area down into the high $550’s. The selloff was short-lived, however,....
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Litecoin is trading on a bearish note as it loses 1.07 percent since yesterday to trade at $2.947. But, let us quickly visit the latest price action, the technical indications and finally, reach a conclusion which may help traders during weekend trading. Litecoin Chart Structure - Upon taking a closer look at the daily LTC-USD price chart, one can find that for the past 3 sessions, Litecoin has been trading in a contracting range where the upsides have been shrinking while the base remains the same. The range has narrowed considerably and a breakout is well on its way. There are better....
Here's what we're watching in the bitcoin price on Friday evening, and beyond, into the weekend. We’re about to shut down our analysis for the weekend, but before we do, let’s take one more look at the bitcoin price, in an attempt to set up against any potential volatility that comes this evening and, beyond that, into the weekend. The chart below shows action across pretty much the entire week. As you can see (and ignore the blue highlights for now, these will come into play when we zoom in to the intraday chart shortly) action was pretty volatile at the beginning of the week, declining....
Here's a look at what we are focusing on in the bitcoin price this morning. It’s Monday morning, and the European session is about to get under way in the bitcoin price. We are going to take a look at how action over the weekend has affected price, and then use this action to have a go at setting up a strategy for today’s session. Action over the weekend was pretty flat, although we did see something of a slight bearish bias towards the end of Sunday evening. Price swung a little also, meaning we have a pretty solid range to go at this morning. So, with that out of the way, let’s get to....
Here's what we are looking at for the weekend sessions in the bitcoin price So that’s it – the end of the week. We’ve had some considerable up and down swings in the bitcoin price since Monday, and as we mentioned in the first of our twice daily bitcoin price watch pieces this morning, we’ve been able to get in and out for a profit on a couple of occasions. This morning we highlighted a relatively tight range and set up against price breakouts on this range. This evening, and with the day’s action taken into consideration, we are going to do pretty much exactly the same. Price action today....
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....