News Bitcoin Price Watch; Here Are This Morning's Levels -...

Bitcoin Price Watch; Here Are This Morning's Levels – NEWSBTC

-

- Advertisment -

So we’re off on another day’s trading out of Europe and it is time to get some levels in place that we can use to take advantage of any volatility in the bitcoin price. Yesterday’s session was a pretty interesting one. We got lots of early morning volatility and we were able to jump in and out of the markets on some pretty rewarding entries. As the evening came around, however, things settled down a bit and markets started to consolidate.

This isn’t always a bad thing – consolidation can make a real difference to the size and momentum of a breakout trade – but it does make things a little dull from an intraday trading perspective.

Anyway, enough moaning.

Let’s get a strategy outlined and push forward into the European session. As ever, take a quick look at the chart below before we get started so as to get an idea where things stand and where we are looking to jump in and out of the markets as and when things move. It’s a one-minute candlestick chart and it’s got our key range overlaid in red and green.

Bitcoin Price Watch; Here Are This Morning's Levels - NEWSBTC

As the chart shows, the range we are looking at for the session today comes in as defined by support to the downside at 4270 and resistance to the upside at 4302. We are going to stick with our breakout approach only for now and leave our intrarange strategy in the draw, at least until things pick up.

So, a close above resistance will get us in to a long entry towards an immediate upside target of 4335. A stop on the position at 4290 looks good.

Looking the other way, if we get a close below support, we’ll jump in short towards a downside target of 4250. A stop on this one at 4280 looks pretty good.

Let’s see what happens.

Charts courtesy of Trading View

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

3 Beginner Friendly Ways to Make Money with Cryptocurrency 2020

In this article, we will explain how to make money with cryptocurrency in 2020. These methods are...

Blockchain, Bitcoin, and Mashed Potatoes

According to studies, over the next 5 years, many of the major supermarkets are expected to...

Different Facets of Biometric Authentication and How They Are Making A Difference in The Financial Sector

When we think of authentication in the true sense, then we find ourselves amid the different proven...

UNICEF’s 125 ETH Investment Took Less Than 20 Minutes and Cost Less Than $20

"The digital world is coming to us faster than we could have imagined," said UNICEF chief Chris...
- Advertisement -Bitcoin Price Watch; Here Are This Morning's Levels - NEWSBTC

Analysis: Is Bitcoin (BTC) Still Viewed As A Dark Web Currency?

There is a long past of Bitcoin (BTC) – due to its anonymity – being used in...

A Beginner’s Guide to Day Trading Crypto

Much of the activity that comes from the crypto-space originates from the crypto-trading community. Buying and selling...

Must read

Blockchain, Bitcoin, and Mashed Potatoes

According to studies, over the next...
- Advertisement -

You might also likeRELATED
Recommended to you