Bitcoin Sets New Highs as All Eyes Watch Reaction to $50,000 Resistance
Bitcoin set fresh all-time highs today, with bulls taking full control of the cryptocurrency’s price action as they set their sights on $50,000 Where the crypto trends in the near-term should depend largely on whether or not bulls will be able to maintain their current momentum Any firm rejection could result in another drawdown, signaling that the resistance within the upper-$40,000 region is insurmountable for the time being One trader explained in a recent tweet […]
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In this morning's bitcoin price watch piece, we noted the levels that we would be looking at for today's session. We slated quite a wide range (about $10 versus our standard $4-6) meaning we could bring our intrarange strategy into play, in combination with our standard breakout strategy. The European session has now matured, and as we head into a fresh Asian session this evening, what are we looking at and how did today's strategy play out? Take a quick look at the chart. As you can see, we have slightly altered today's range to accommodate the bitcoin price action seen during Europe. We....
Yesterday evening we published our thoughts on the bitcoin price movement we had seen throughout the day on Tuesday in our twice-daily bitcoin price watch piece. We noted that there has been a considerable amount of upside momentum throughout the day, and that managed to enter and exit on this momentum to draw profit from the market according to our intraday scalp strategy. Now action has matured overnight, and the European session is about to kick off for a fresh day of trading, what are the levels we are keeping an eye on now, and where will be looking to enter on today's action? Take a....
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