Trying to figure out which way the bitcoin price is heading has been a tough task as late. There’s been no real overarching directional bias – the bitcoin price has ranged consistently with the exception of a few sharp breakouts. As such, we’ve been implementing our intraday breakout strategy in combination with predefined risk levels in order to try and draw a profit from the spikes. This has fared pretty well over the weekend, and as we head into a fresh day’s trading, we will carry the same strategy forward today. So, with this said, what are the levels we are looking to trade this European session, and where we will look to get out of the markets in the event that our strategy puts us in to a long or short position? Take a quick look at the chart below.
As the chart shows, action overnight continued the trend we have seen so far this week, with relatively flat consolidatory action confined within a pretty tight range. As we head into today’s session, the levels