Bitcoin Price Breakout; Here’s What To Watch

Yesterday afternoon, we published our twice-daily bitcoin price watch piece. In the piece, we highlighted the levels that we would be looking at around evening during the Asian session, and suggested that – as a result of the widening of our regular parameters – we could probably get in and out of the markets according to our intra-range strategy. Action has now matured overnight, and – as we head into a fresh European session – what of levels that we are keeping an eye on in the bitcoin price today, and how can we try and draw profit from the market on the back of these parameters? Take a quick look at the chart.

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As the chart shows, the levels that we are watching today are relatively tight compared to those that we had slated as the ones to watch last night. In term support lies at 235.47, and in term resistance sits at 237.04. With less than two dollars worth of range to play with, our intra-range strategy is out of the window today. Instead, will focus on the breakout try

Read more ... source: NewsBTC USA