Bitcoin Price Watch; Back In Action

Its been a week or so since we last put out a bitcoin price watch piece, and during that time we’ve had some pretty volatile action in the markets. Bitcoin has seen a number of fundamental developments and, alongside some technical action, has as a result offered us plenty of opportunities to jump in and out of the markets according to our intraday strategy. So, with this said, and as we head into a fresh European day’s trading, what are the levels we are keeping an eye on today, and where will we look to draw a profit in the event that we get a continuation of the week’s volatility? Take a quick look at the chart to get an idea of today’s key levels.

Screen Shot 2015-10-06 at 10.36.48Screen Shot 2015-10-06 at 10.36.48

As you can see, in term support for today’s session sits at 239.51 (overnight lows) while in term resistance comes in at 241.87 (weekly highs). One thing you will immediately notice is that this range is slightly narrower than we would normally trade. This is ok, it just takes our intra-range

Read more ... source: NewsBTC USA