Shortly before markets closed in Europe yesterday evening, we published our thoughts on the bitcoin price. We suggested that we may finally see some action throughout the Asian session on Monday evening, and as we got a little bit of up-and-down and – as such – entered according to our breakout strategy over the weekend. Action in the bitcoin price has now matured throughout the Asian session, and as we head into a fresh European morning, did we get the action we expected, and did we manage to get in and out of the market accordingly? Take a quick look at the chart.
As the chart shows, shortly after we published our piece, we broke through in term resistance to get into a long entry towards our initial upside target. We broke through our target pretty quickly, and overnight reached highs of 297.42. This level now serves as in term resistance during today’s session. From this high, we corrected and have ranged between in term resistance and what now serves as in term support for today, 292.97. These are the levels that we will be