Bitcoin Price Rockets; More Gains Today?

In yesterday evening’s bitcoin price watch piece, we looked at the action we had seen during the European session, and suggested that – if we could get a breakout to the upside – it may be the potential driver behind a medium to long-term revaluation in the bitcoin market. Bitcoin has declined quite considerably over the last few months, and – having bottomed out around $200 last month – looked to be due some upside momentum. The fundamentals remain strong, and as bitcoin infrastructure is built, it’s price – while volatile – should not depreciate to considerably. Overnight last night, we saw a vindication of this bias, with the breakout we were looking for. We now trade just ahead of $245 flat, and have a couple of fresh parameters that we are keeping an eye on during today’s session. So, without further ado, let’s take a look at what these levels are, and see where we can try and get in and out of the market according to our intraday strategies during today’s European session. First things first, take a quick look at the chart.

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