In these bitcoin price watch pieces, it’s not uncommon for us to trade a relatively tight range. Over the last week or so, however, we had quite a lot of volatility in the bitcoin price, and it has afforded us the opportunity to widen out our parameters a little bit and try out some intra-range trading. We did this overnight in the Asian session on Thursday, and as we head into a fresh European session today, let’s try something similar. So, with this said, what are the levels that we are going to keep an eye on today, and how we going to look to trade bitcoin price as we head into the weekend? Take a quick look at the chart.
As you can see, we are currently trading around 226.72. This is mid-range between what serves as in term support at 220.28, and in term resistance at 231.10. As we head into today’s session, these are the two levels were going to watch. So initially, we will look to trade from in term resistance on a short entry, with a medium-term downside target of 220.28. On