Bitcoin Price Watch; Stop Loss Hit – Onwards!

Coinbase was recently in news for introducing Stop Loss feature on its exchange platform. Read further to know more about Stop Loss. Coinbase recently announced the integration of ‘Stop Order’ function which allows its users to trade bitcoin in a convenient fashion without having to deal with drastic price fluctuations. What Is a Stop Order and Why Is It Important? To begin with, a stop order is a feature that allows users to buy or sell any asset on a trading platform when the target asset’s value reaches a particular price point of choice. Stop orders are also known as stop-loss orders.....

Here's a look at what we are focusing on in the bitcoin price this evening. The European session has now drawn to a close, and it’s time to take a look at the action we saw in the bitcoin price throughout the day, and see if we can use that action to put together a strategy for this evening out of the US, and beyond, into Asia. Once again, it’s been a pretty tough day. Last night we noted that we got taken out on choppy action by a stop loss hit on a short position. It wasn’t a crippling loss (that’s why our stops are in place, after all) but it was a bit frustrating as we are now net down....

Here's a look at what we are focusing on in the bitcoin price this evening . It’s been a rough day to be an intraday bitcoin price trader. In this morning’s analysis, we highlighted a pretty tight range and set out some entry rules with which we would get into the markets on any volatility. We suggested that the recent action seen in the bitcoin price was conducive to a break, and that this break could come at any time during the European session, but likely later as the US session opens up for the day. Well, we did get a break, and a bit of volatility, later on in the session.....

Litecoin bulls have made a great attempt in narrowing the recent losses as the price advanced roughly 1.5% to be trading at $1.797. I had mentioned in my previous analysis, Support Breached, Look to Exit! that market participants should build short positions on rise up to $1.785 by maintaining a stop-loss just above $1.795. Since the stop-loss has been triggered, it only makes sense to adopt a wait and watch strategy until convincing directional signals emerge. The 240-minute LTC-USD price chart indicates that the market may test the patience of the traders for a little longer before it....

Every day we try and use the action seen in the bitcoin price during the last twenty-four hours or so to formulate a strategy we can use to draw a profit from the markets during the subsequent twenty-four hours. Yesterday afternoon, shortly before the markets closed in Europe, we noted that action in the bitcoin price had been particularly sporadic, and that heading into the Asian session we were going to keep things tight, especially from an upside perspective. Our bullish trades have been pretty unsuccessful as late – not in the sense that we haven’t seen any upside action, but more as a....