In this morning’s bitcoin price watch article, we outlined the trade we made overnight according to our intraday, intrarange strategy, and suggested that for today’s European session we would revert back to our more traditional breakout strategy and try to scalp a few dollars on any volatility in the bitcoin price. Action has now matured throughout the day, and it turns out the strategy switch was a good move, with price breaking to the upside midafternoon and reaching our predefined target almost to the cent, before reversing to correct a little to the downside. So, as we head into this evening’s Asian session, where are we looking in the market, and are we going to maintain the current strategic approach? Take a quick look at the chart to get an idea of what we are watching.
To answer the strategy question, yes. Our approach has worked for today’s session, and although we are currently consolidating, we will hold our breakout strategy for this evening in the hoe that we can push forward to further highs throughout