In this morning’s bitcoin price watch article, we focused on a pretty narrow range in an attempt to combine our intraday breakout strategy with some scalp targets to draw quick profit from the market on any volatility. Action has now matured throughout the session, and we are heading into what looks like its going to be a pretty interesting evening. The Asian session has, over the last few weeks, traditionally been the session that has given us the most gains. This isn’t set in stone, but chances are we will see a continuation of this trend throughout tonight’s trading. If we do, we want to be ready, so let’s try and alter this morning’s parameters in response to the day’s action, and set up some entry levels ahead of Asia. As always, take a quick look at the chart to get an idea of tonight’s range.
One thing to keep in mind is that – while perhaps not as large as in the western world – the approaching New Year will likely impact volume