Across pretty much the entirety of yesterday’s session in the bitcoin price, we saw an upside run. Marred by the odd correction, this run brought price to trade at what amounted to fresh weekly highs just ahead of 665, shortly before the day drew to a close. This is, of course, still quite a long way off the highs that came about last week, so this means two things. First, that there is still plenty of room to the upside if volume can hold price up for another sustained run. Second, that if we get this run, there will be some relatively easily identifiable near term targets that we can use as key levels, based on action from just last week. The nearer term these targets, the stronger they normally turn out to be.
So, as we head into a fresh day’s session out of Europe, and with what we’ve just said in mind, let’s take a look at the key levels in focus for today that define our intraday range, and how we intend to go at these levels from a breakout strategy perspective.