Last week, we got relatively little action in the bitcoin price as far as any discernible trend was concerned. Pretty much throughout the entire week we saw markets range and down between predefined parameters, without really breaking out any direction. However, over the weekend, we finally see some action worth noting. Price looks to have made a medium-term recovery, and – with any luck – we can see a continuation of this recovery throughout today’s European session and beyond. So, with this said, what of levels were keeping an eye on in the bitcoin price today, and where will we look to get in and out of the markets according to our strategy. Take a quick look at the chart.
As you see, early-morning action on Sunday brought us to trade around midday highs of 244.19. From this level, we have since corrected slightly, and reached intraday lows of 238.4 for earlier this morning. These are the two levels that will be keeping an eye on as we head into today’s session.
We will initially look for a break above 244.19 put us