In this morning’s bitcoin price watch piece, we commented on the action we had seen overnight in the bitcoin price, and suggested that – in response to the upside volatility from the bitcoin price seen as late – we would widen out our parameters and bring an intrarange approach into play. Action has now matured throughout the European session, and as we head into the weekend and the Asian daytime, where are we looking to get in and out of the markets, did our intrarange strategy garner any results today, and what do we expect from bitcoin near term? First up, as usual, take a quick look at the chart to get an idea of our key levels.
As the chart shows, the levels we are looking at tonight remain essentially unchanged from those we have been watching today. In term support sits at 314.46, and resistance comes in at 333.93. In this morning’s piece, we noted that we would enter on a bounce from support towards a medium term upside target of 320 flat. This