In this morning’s bitcoin price analysis, we noted that we would be bringing our intrarange strategy in to play for today’s session. We widened out predefined range and planned to go long at support and short at resistance, with a stop loss just the other side of our entry. Action has now matured throughout the European afternoon, and we are heading into a fresh Asian session shortly. In light of this, let’s take a look at how our strategy fared, and set up our positions n anticipation of any volatility tonight. As always, check out the chart to get an idea od what we are watching.
As you can see form the chart, action today has been relatively flat. We remained well within our predefined range, but failed to reach either in term support or resistance, meaning we aren’t in (and haven’t got into) any trades so far today. With this in mind, we are tightening up our range tonight. This doesn’t mean we cant use our intrarange, just that we will have to keep our