Earlier this morning, we published out twice daily bitcoin price watch piece, with a twist. We left it a little later to publish, with the goal of altering our strategy to accommodate a range trade approach, instead of our usual breakout strategy. Action has now matured, and the Asian session will kick off shortly. As we head into the beginning of the session, how has our strategy fared already today, and is it worth maintain this approach going forward? Take a quick look at the chart to get an idea of what we are watching tonight.
As you can see, the levels we defined this morning as our range binding parameters remain in place during this evening’s session. When we published earlier, we noted that the bitcoin price had tested in term support once already, and that we had two options. The first, to enter on an aggressive range trade towards in term resistance at 272.99, with a stop just the other side of support as a risk management tool. The second, to wait on a