Bitcoin Price Watch; Range Bound Action Dominates
Here's a look at what we are focusing on in the bitcoin price this evening. Sometimes, we outline our key levels in the bitcoin price, and then action throughout the day disappoints. Specifically, when this happens, we generally see a ranging of price between the two levels in question, and a failure to break either resistance or support and, by proxy, a failure of our strategy to put us in any profitable trades. As things have turned out today, that’s exactly what has happened. Price basically bounced around our key support level for a short period, before ranging slowly towards....
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Here's what we are focusing on this evening in the bitcoin price. Trades, parameters and risk levels. Things are drawing to close in the European session, and it’s time to perform our second analysis of the day in our bitcoin price watch strategy. In this morning’s analysis, we noted that price had been pretty volatile across the last couple of weeks, but has since slowed down a little bit, and that range bound trading was expected during today’s session. Further, we suggested that – in response to this range bound action – we would tighten up our parameters and look for scalp entries on....
Earlier this morning we published our twice-daily bitcoin price watch piece. In the piece, we discussed how bitcoin had traded sideways for the majority of the week, and we suggested that it might be worth incorporating a range bound strategy to take advantage of this sideways movement. Now action has matured throughout today's session, and as we head into the weekend, what are the levels that we are keeping an eye on the bitcoin price, and is a range bound strategy still appropriate? Take a quick look at the chart. As the chart shows, we have remained within the range that we had slated....
Here's a look at what we are focusing on in the bitcoin price this evening. That’s another day out of the way in Europe, and despite what we said we’d be hoping for heading in to the session early morning, thing’s haven’t worked out that well. The bitcoin price seems to be stuck in a sort of sideways trading pattern right now, and it’s not even trading sideways at or near a key psychological level (say, a 00s). This means that we’re essentially stuck in a loop of up down, range bound action, until something happens to initiate a breakout. This something is almost always fundamental, and....
Here's what we are looking at in the bitcoin price this evening, breakout and intrarange. It’s been a pretty slow day in the bitcoin price space, and this has weighed on our ability to get into the markets. We had a pretty volatile end to last week, and some decent action over the weekend allowed us to draw some profit from a few positions, but the current action looks to be representative of the start of the week slumps we’ve seen across the last couple of months – range bound, no real breakouts, and when we do see a breakout, it doesn’t result in any sort of sustained momentum we can....
In our bitcoin price intraday technical analysis piece this morning, we highlighted the range bound action we saw in the BTCUSD throughout Thursday night, and suggested that the levels to keep an eye on would be in term support and resistance that defined the range. We outlined three possible scenarios. The first, one in which price broke through in term resistance, giving as a medium-term bullish bias with an intraday upside target of 253.73. The second, a downside break of in term support, and the offering of a medium-term bearish bias towards 243. Finally, a continuation of the range....