It’s Monday morning, and a brand new week awaits in the bitcoin price. The last week or so was pretty interesting – things ramped up mid-week, and price carved out a few fresh highs. We also saw some temporary corrections, but none large enough to negate the upside momentum, and we closed out on Friday with what looked like a pretty good chance of reaching the 800 mark over the weekend. We noted, however, that the markets seemed to be slowing a little heading into Friday evening, and that this might be indicative of price taking a little bit longer to breakout from a consolidatory range than perhaps we’d prefer.
As things turned out, this latter suggestion proved correct, and the bitcoin price is still hovering around the mid 700s, having corrected a little throughout the Sunday session.
Anyway, let’s see if we can take advantage of the action with some solid key level placement during today’s session.
As ever, take a look at the chart below to get an idea of where we are looking to trade today.
The chart is a five-minute candlestick chart and our range is overlaid in green.