This morning, in the first of our twice daily bitcoin price watch pieces, we noted that the week so far had given us plenty to go at, and that this meant we were net up on the markets heading into the final session. We also noted that if we didn’t have too rough a trading day today, we could close the week out for a nice gain. Action has now matured throughout the session and things didn’t go quite as we’d hoped. Not terribly, and we still end the week net up on the markets, but not great.
We highlighted a very tight range and suggested we would get in on a break of that range, looking to take a quick scalp profit from short term momentum. Shortly after we published the analysis, we got a break to the upside, but this break quickly reversed and took out our stop loss on the position. We also got a downside break, but price failed to close below support and so our entry never activated. We are now trading somewhat mid range from this morning’s levels, but we are going to widen out our parameters a little to incorporate today’s action.
So, with this