Yesterday evening we published our thoughts on the bitcoin price movement we had seen throughout the day on Tuesday in our twice-daily bitcoin price watch piece. We noted that there has been a considerable amount of upside momentum throughout the day, and that managed to enter and exit on this momentum to draw profit from the market according to our intraday scalp strategy. Now action has matured overnight, and the European session is about to kick off for a fresh day of trading, what are the levels we are keeping an eye on now, and where will be looking to enter on today’s action? Take a quick look at the chart.
As you can see, having hit highs yesterday night of 252.19, the bitcoin price corrected a little bit and we are now trading just shy of those eyes, within a range defined by in term support at 243.25 and resistance at 252.19. These are the two levels that we will be watching as we head into today’s session.
If we can get a return to the upside momentum that we saw yesterday, we will look for a break above 252.19 to put us long towards an