Bitcoin Remains Stuck Within Key Trading Range; Levels to Watch For
The price action seen by Bitcoin throughout the past couple of days and weeks has been rather boring, with the benchmark cryptocurrency caught within a firm bout of sideways trading that has offered little insight into its mid-term outlook. Bulls were able to defend against a break below a crucial level yesterday, with the recent […]
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Bitcoin price failed again to clear the $18,800 resistance against the US Dollar. BTC is trading in a range and it could correct lower sharply if there is a break below $18,200. Bitcoin is still trading well below the key resistance area near the $18,700 and $18,800 levels. The price is now below $18,500 and […]
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....
Yesterday afternoon we saw the bitcoin price breakout of its intraday range (the parameters of which we highlighted in the mornings bitcoin price watch piece), and we published our analysis shortly before the markets closed in Europe offering up the levels we were keeping an eye on in the bitcoin price overnight and what the breaking of these levels would mean as far as our intraday positions were concerned. Now action has matured, we have a few new levels to watch. What are these levels, and how might we enter a position in the BTCUSD today? Take a quick look at the chart. As you can see,....
In these bitcoin price watch pieces, it's not uncommon for us to trade a relatively tight range. Over the last week or so, however, we had quite a lot of volatility in the bitcoin price, and it has afforded us the opportunity to widen out our parameters a little bit and try out some intra-range trading. We did this overnight in the Asian session on Thursday, and as we head into a fresh European session today, let's try something similar. So, with this said, what are the levels that we are going to keep an eye on today, and how we going to look to trade bitcoin price as we head into the....
Bitcoin is struggling to settle above $20,500 against the US Dollar. BTC could decline heavily if there is a clear move below the $19,500 support zone. Bitcoin is stuck near the $20,000 zone and trading below the $20,500 resistance. The price is now trading below the $20,000 level and the 100 hourly simple moving average. There is a short-term rising channel forming with support near $19,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate lower if there is a clear move below the $19,600 and $19,500 levels. Bitcoin Price Remains in a Range Bitcoin....