Bitcoin Price Watch; Live Trade!

Bitcoin Price Watch; Live Trade!

The Wednesday session is drawing to a close in Europe, and it’s time to take our second look at what the markets presented today, and in turn, use this action to put forward a potential trading strategy as we head into the US afternoon, and beyond that, into the Asian session this evening. In this morning’s bitcoin price analysis, the primary focus was a very tight range, which we said we would use to scalp the bitcoin price, on any breakout action. The range was only a few dollars wide, which left no room for an intrarange approach. Action has now matured across the session, so with this in mind, did we manage to get into a scalp trade, or did we get a repeat of last night’s action, whereby price remained well within the range we predefined? Take a quick look at...

Bitcoin Price Watch; Scalps on this Evening

Bitcoin Price Watch; Scalps on this Evening

In this morning’s bitcoin price watch piece focusing on today’s session, we noted that as a result of action overnight, we would be tightening our range, and approaching the market with a pure breakout strategy (rather than a combination of our breakout and our intra-range approaches). Action has now matured across the European morning session, and we are about to head into the US afternoon and beyond that – into the Asian session tonight. With this in mind, and as we move forward into the aforementioned periods, what levels are we focusing on in the bitcoin price, and we do we hope to get in and out of the markets according to our strategy if the volatility offers up this option? As ever, take a look at the chart below. It shows action across the...

Bitcoin Price Watch; One, Two and Three!

Bitcoin Price Watch; One, Two and Three!

In this morning’s bitcoin price watch analysis, we suggested that we would like to see three things this by afternoon. First, a successful completion of our ongoing long trade. Second, a breakout on which we could get into a position, with the assumption being that this would be a long position and an upside break, if we were also going to fulfill item one. Third, a sustained move I the direction of our entry that would see us hit our target, and take us out of the trade for a profit as we headed into the weekend. Before we get going with our weekend key levels, take a look at the chart below. As the chart shows, we hit all three of our items on the wish list. A breakout put us long towards 430, which we hit pretty quickly after entry, and the run ran through our...

Bitcoin Price Watch; Looking Towards the Week’s Close

Bitcoin Price Watch; Looking Towards the Week’s Close

It’s been a strange week in the bitcoin price yet again. We’ve seen some technical patterns, some consolidation, and even – thankfully – some breakout action from which we’ve been able to place trades according to our intraday strategy. Unfortunately, it looks as through we might be in for a relatively stagnant end to the week. Action overnight on Thursday was pretty uninspiring, and while it did get us un to a long trade (which we remain in as things stand), we pretty much just saw a gradual upside run characterized by tight, narrow frame candlesticks. We’d like to see two things today, before the end of the US session and what we might officially call the weekend. The first, a solid close above or below one of our key levels to give us an excuse to enter a...

Bitcoin Price Watch; Here’s What We’re Watching

Bitcoin Price Watch; Here’s What We’re Watching

It’s the start of the European morning session, and finally, the bitcoin price has given us some action worth trading. The last few days have been relatively flat, with price either trading sideways or breaking out but returning to trade within range pretty much instantly – essentially, just chop out action. Overnight in Europe, however, things got a little more volatile. The bitcoin price broke through the level we had slated as in term resistance at last night’s session end analysis, and continued to gain to take out our target and to carve out fresh highs on the intraday chart of 425.48 – a level that will come into play as today’s session progresses. With any luck, we’ll see some further upside, but from a short term perspective, any volatility will do – be...