Bitcoin Price Watch; Prepare For Choppy Action!
Here's a look at what we are focusing on in the bitcoin price this evening. Ok, so here’s the plan for this evening. The bitcoin price has been pretty steady all day, albeit with a slight downside trend, so we’re going to approach this evening’s market with a little bit of caution. Not because we think we’ll see too much action, but because in the face of the recent volume spikes that came about last week, we may be in for some choppy price movement. We don’t really need to alter our strategy or anything like that, just make sure that we’ve got some well defined risk management levels in....
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Here's a look at what we are focusing on in the bitcoin price this morning. Tuesday’s here, and as things turned out, we had a pretty interesting night’s worth of trading in the bitcoin price last night. Not because price moved considerably, or anything like that, but because we got some choppy action that fell in line with our breakout levels. Normally, choppy action is a real pain. It gets us into trades and then ends up taking them out again almost right away. That’s what stop losses are for, and it’s a pain but something we just have to accept. However, last night’s choppy action fell....
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 what we are looking at in the bitcoin price this morning. So we are now closing in on the end of the week, and we’ve managed to eek out a couple of good entries, and, in turn, a couple of nice profits on action in the bitcoin price. Things haven’t been exactly at we’d have liked, however. Action has been a little flat, and when we don’t get much volatility, it translates to some difficult trading conditions. Specifically, we often see lots of choppy action, and this choppy action makes it tough to place risk parameters without being overly lenient in an attempt to avoid a chop out....
Here's what we are focusing on after today's action in the bitcoin price. As far as rough days in the market go, this has been one of the worst. We noted in this morning’s bitcoin price watch piece that the action we’ve seen over the last few days in the market had been a bit difficult to trade. Action has been up and down, and pretty choppy, and it’s this sort of volatility that can sometimes be great, and sometimes torturous. We have managed to pull a couple of profitable trades out of this sort of bitcoin price action, but only by keeping our targets extremely tight and maintaining some....
Earlier on this morning, we published the first of our twice daily bitcoin price watch analysis. In the piece, we suggested that - as a result of the width of our predefined range - we would bring both our intrarange and our standard breakout strategy in to play. Action has now matured to the close of the European session, and we are about to head into Friday evening a a fresh Asian session. Many of the markets for the more traditional financial assets close over thanksgiving and the weekend, but not bitcoin. This means we can get our strategy in line for the weekend, and attempt to pull a....