Bitcoin Price Choppy; Here’s What’s On

Overnight action in the bitcoin price has been pretty choppy. Having outlined our predefined range yesterday evening, we were hoping to be able to draw a profit from our intrarange strategy. We did reach support at the turn of the night, but broker through it ever so slightly to log a close below. This put us in a short breakout trade that, unfortunately, got stopped out an hour or so after entry. We are currently trading mid range on a slightly tightened range (which we will outline shortly), and plan to bring both our intra and our breakout strategy into play for today’s bitcoin price trading. SO, with this said, here’s what we are looking at during today’s European session. First up, take a quick look at the price chart below. It shows action in bitcoin price from the last couple of days, on a 15 minute, intraday timeframe.

Screen Shot 2015-12-04 at 13.40.43Screen Shot 2015-12-04 at 13.40.43

As the chart shows, the two levels that define today’s range are in term support at 355.82 and in term resistance at 362.15. This is a pretty

Read more ... source: TheBitcoinNews

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