This morning, we published our twice daily bitcoin price watch piece. In the article we noted that we would bring our intraday breakout strategy to the fore, and look to enter in the direction of a break (and close) above or below our predefined range parameters. We also noted the possibility for an intrarange trade based on the idea of a correction from resistance. Action has now matured throughout the European session, and later on this evening we will be heading into a fresh day’s trading in China and wider Asia. With this in mind, and considering that the large moves all seem to have come during the Asian session over the last few weeks, what are we watching tonight, and where are our parameters set? Take a quick look at the chart to get an idea of our key levels.
As you can see, today’s action broke out to the upside shortly after we published our initial analysis. However, we failed to reach our upside target by about half a dollar (a little disappointing, but