Once again we have seen some pretty volatile action in the bitcoin price during the Asian session. Having declined throughout yesterday evening, from highs around 241.63 on the day, we reach 237.10 shortly before midnight. However, we quickly bounced from this level, and are currently trading around 240 flat – just shy of yesterday’s highs at 241.63. The hope here is that we can get some further volatility during today’s European session, and draw a profit from our intraday strategy as we head into the weekend. So, with this said, what are the levels that we are watching in today’s bitcoin price, and where can we look to get in and out of the markets according to our strategy? Take a quick look at the chart.
As you see, and as we have already mentioned, we are currently trading between what serves as in term support at 237.10 and resistance at 241.63. These are going to be the two levels that we watch during today’s session.
If we can get a run up towards 241.63, it will give us two options. First, we will look for