3 reasons Bitcoin recovered by 8% overnight — Key levels to watch next
Bitcoin rebounded by over 8% overnight and there are three key reasons behind the rally, in addition to macro factors. The price of Bitcoin (BTC) recovered by more than 8% overnight on March 1 following a steep drop during the weekend.There are three reasons the price of Bitcoin recovered swiftly in the past 24 hours. They include the recovering global stock market, rising Coinbase premium, and a typical weekend reversal.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingviewRising global stock market coincides with weekend reversalThe global stock market has started to recover as soon....
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So yesterday evening in our twice daily bitcoin price watch piece, we highlighted the levels that we were pitching to keep an eye on during Tuesday's Asian session. We suggested that - if we got any overnight volatility - we would look to get in and out of the markets according to our intraday strategy. Action has now matured overnight and as we head into a fresh day in Europe, here are the levels we are looking at this morning. First up, take a quick look at the chart to get an idea of recent action. As the chart illustrates action overnight saw the bitcoin price remain constricted....
Yesterday afternoon, shortly before the markets closed in the UK, we published our bitcoin price watch piece highlighting the levels we would be keeping an eye on in the BTCUSD as the bitcoin price matured overnight. We've seen some considerable movement throughout this maturity, and our parameters - in terms of levels to watch - have changed. With this said, what happened overnight, and what will action around particular levels tells about a potential intraday bias as we head into a fresh day of trading? Take a quick look at the chart. As you can see, action in the bitcoin price overnight....
Late yesterday evening, we published our twice-daily bitcoin price watch piece. In the piece, we highlighted the levels that we were watching throughout the Asian session on Wednesday evening, and suggested how we would respond to price reaching these levels as far as getting in according to our intraday bitcoin price watch strategy was concerned. Now action has matured overnight, what are the levels that we are keeping an eye on in the bitcoin price today, and is there further profit to be drawn from either our intraday breakout strategy or our scalping strategy or an intra-range method?....
A look at the bitcoin price overnight on Tuesday shows a sharp decline in the session, and sets us up for some further volatility today. As we've mentioned a few times last set of bitcoin price watch pieces, action has been relatively muted during the European session for sometime. However, when we get a sharp move like that which we saw last night, the likelihood is that the volatility will continue through to at least the early parts of the day, meaning that could be some opportunity for a profit from the market if we line up against any action with the correct levels today. So, with....
Following yesterday's European session in the bitcoin price, we reported our twice-daily interpretation of price action, and offered up the levels that we would be keeping an eye on in the BTCUSD as the US afternoon session took hold and bitcoin price action matured throughout the day. We are now about to kick off another day's trading in bitcoin, and action overnight has presenters with a couple of fresh key levels that our traders will be watching closely for bias inference this morning. This said, what did action tell about the likely short-term direction in the bitcoin price, and what....