In last night’s bitcoin price watch piece, we highlighted the levels that we would be keeping an eye on throughout the Asian session. We suggested that – as a response to the considerable volatility we had seen over the last week or so – risk management should be the driving force behind our strategies. In other words, we needed to ensure that none of our entries had less than a two to one risk reward ratio, and further, that our stops were well enough placed to give us an out in the event that we returned to trade within range on a bias reversal. So, wit hthis said – here are the levels we are keeping an eye on for today’s session, alongside a brief description of the action we saw overnight. First up, take a quick look at the chart.
As you can see, the levels we are watching for today’s session are in term support at 353.12 and in term resistance at 379.30. These are the two levels that define today’s range. Action overnight