We’re coming to the end of the day on Tuesday out of Europe and it’s time to take a second look at the bitcoin price in an attempt to figure out how best to approach the market this evening, during the US afternoon session and beyond into the Asian open. Action today has been pretty interesting, so before we get into the strategy we are looking at for this evening, let’s address what happened during today’s session first.
Specifically, we want to look at a gap up in the bitcoin price that took place a couple of hours ago. The gap is illustrated on the chart below.
As the chart shows, price gapped through our resistance level to carve out fresh intraday highs juts short of our upside target at 453 flat. We entered the trade on the gap up, and remain in the trade as things stand. As such, we wont be looking to get into any fresh trades this evening (at least, that is, until the trade we are in resolves).
For those not yet in a