Bitcoin Price Trades A Little Over $24,000, Can It Target $27,000?
Bitcoin price peeped above the $24,000 price level after falling from the $25,000 mark few trading sessions ago. Over the past week Bitcoin secured a 6% gain and on the daily chart the coin fell by 1%. This had pointed towards a sign of consolidation. Bitcoin price had formed higher highs and high lows which are an indication of bullishness on the chart. Incase the king coin manages to remain above the $24,000 mark for a substantial period of time, it can aim at $27,000 over the upcoming trading sessions. In case the coin loses momentum, it can fall to $23,000 level. Technical outlook for....
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Here's a look at what we are focusing on in the bitcoin price this evening. The European market is now closed, and it’s time to take a second look at the bitcoin price for today. In this morning’s analysis, we highlighted a range of around six dollars width, and suggested that we would focus on breakout scalp trades if priced managed to clear the range. Action has now matured for the day, and we did manage to get into one of these trades. The chart below highlights today’s action, and we have left this morning’s range highlighted in green so as to illustrate the trade. As the chart shows,....
A head and shoulders pattern is forming in the bitcoin price - here's how we're looking to trade it. In the introduction to yesterday’s analysis, we noted that we remained in a trade from Monday’s session and – as such – wouldn’t be getting in to any fresh trades before we were taken out of the ongoing entry – be it for a stop loss hit or a target take out. We had run down towards our target, but reversed short, and – at time of writing yesterday – were trading a lot closer to our stop than our target. As things turned out, we got taken out for a stop hit, and went into yesterday evening’s....
In our twice-daily bitcoin price watch piece that we published early this morning, we highlighted the range through which bitcoin was trading following last night's sharp decline, and suggested how we might respond to price reaching these levels as far as getting in and out of our strategy driven scalp trades was concerned. Now action has matured throughout the European session, and we are heading into the US afternoon, are the levels we were watching this morning still pertinent? Further, did we manage to get in to any trades on today's action? Let's take a look. Take a quick look at the....
Today's action in the bitcoin price has - once again - brought with it some surprising momentum. We started off the day down and expected to get some sort of correction. In light of this expectation, we teed up our key levels and put our breakout strategy to work. Action has now matured throughout the day, and as we head into a fresh Asian session this evening, what are we looking at, and where will we look to get in and out of the markets if the volatility continues? Further, what did today's action bring us as far as getting into a live trade was concerned? Take a quick look at the....
Here's what we are looking at in tonight's bitcoin price, with our targets and risk parameters outlined for this evening's action. Let’s kick off this afternoon’s analysis with a chart. The chart below shows the framework we overlaid on the bitcoin price this morning, as well as maintaining the key levels we put in place as our target entry points. As the chart shows, price broke through the lower trend line of the upward sloping channel shortly after we published our analysis, and subsequently through the level we had slated as in term support. The latter break put us in a short trade....