Bitcoin Price Watch; A Short-term Cascade Effect
The cascade effect has put us on back-foot — we are expecting Bitcoin price to go further down. So that’s it — the overlong and overdue flat range was finally broken today, but with a jolt. As the order books continued to go thin, and volatility remained lower as ever, somebody turned butter finger and shorted a massive chunk. This led to a series of speculative short positions which resulted in the invalidation of our psychological support, the 600 fiat mark. The scenario was aptly speculated by Samuel Rae, as can be seen in his last week’s analysis. We will stick to what he said to....
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Here's a look at what we are focusing on in the bitcoin price this morning. So that’s it – another week’s worth of trading in the bitcoin price pretty much come to an end. We’ve got the morning European session ahead of us, and beyond that, the US session this afternoon, and then the weekend. Overall, it’s been a pretty good week. Action was nice and volatile heading into the start (and through until around yesterday midday) before settling into something of a range during the Thursday US evening session and in to the Asian session last night. We managed to start above the 600 flat mark,....
Here's a look at what we are focusing on in the bitcoin price this evening. Things are really picking up now. Price was hovering around the early 800s this morning, but throughout the European session, has gained considerably, and we’re now looking at the 850 mark as a potential near term target. Who would have predicted that? Not us. Well, not this soon, anyway. Of course, our long term view is supportive of this bullish action. Long term holdings benefit from the momentum, and all’s well there. However, as mentioned a couple of times over the last few days, we expected the Christmas....
Earlier this morning we published a bitcoin price watch article that outlined the approach we would be taking throughout today's European session. Action has now matured throughout the day and, as we head into the Asian session this evening, how did our strategy play out, did we manage to get in and out of the markets, and where will we be looking to implement our entries heading into the weekend? Take a quick look at the chart below. As you can see, today's action has been pretty much range bound, between the parameters we highlighted this morning as being the ones to keep an eye on.....
Here's a look at what we are focusing on in the bitcoin price this evening. In this morning’s bitcoin price watch piece, we discussed the fact that action to date this week has been relatively flat, and that we were hoping to get a breakout that we could get in and out on a quick short term scalp entry and draw a profit from the market on the volatility. Action has not been bad today, and we’ve had a relatively decent European session. We didn’t manage to get multiple positions entered, but we did get a nice quick trade to the upside, and managed to draw a profit in the process. Price....
Earlier this morning we published our twice-daily bitcoin price watch piece highlighting the action we had seen in bitcoin over the weekend, and suggesting a few of the key levels that we would be looking at as we headed into Monday's European session. Now action has matured throughout the day, we have seen quite a lot of volatility, and so a fresh set of key levels have come to the fore. With this said, what are the levels that we are now watching, and how will we be looking to enter into any volatility in the bitcoin price overnight? Take a quick look at the chart. As the chart shows,....