Bitcoin Price Watch; Gapped Down, Recovery?

It’s time to take a first look at the bitcoin price for today, and see if we can set up against the action seen last night I order to draw a profit from the market. It was a bit of a strange night last night. Price took a hit and gapped down on no real news, and we managed to get in short on a break of support. The trade didn’t work out, and we are now net flat on the markets, but it’s given us something to go at from an intraday perspective. We’ve got a pretty solid range, and should head in to today’s European morning session with some decent setups prepared.

So, with that said, here’s a look at what we are going for. As always, take a quick look at the chart below to get an idea of what levels we are looking at as the defining levels of our range. It’s a five-minute candlestick chart with our range overlaid in green.

Screen Shot 2016-08-25 at 12.45.02

Screen Shot 2016-08-25 at 12.45.02

As the chart shows, the range we are going for is defined

Read more ... source: TheBitcoinNews