Bitcoin Price Watch; Here’s What’s on This Evening

In this morning’s bitcoin price watch piece, we highlighted a very tight range in an attempt to draw a profit from our breakout strategy on tight volatility. We had in term resistance at 418 flat, and shortly after publication bitcoin broke to the upside through this resistance, and put us long towards an upside target of 421 flat. Shortly after the break, we broke back within range, but managed to avoid a stop loss hit and again broke to the upside. Since this, however, we’ve been trading pretty much flat along broken resistance. Exactly how this trade will turn out remains to be seen, but it means we can’t get into the market (according to our intraday strategy rules) until it resolves. There will be plenty reading that aren’t in a trade, however, so here’s our interpretation of the day’s action, and some revised key levels that incorporate the latest volatility for this evening’s trading. As ever get a quick look at the chart to see what we are focusing on. It’s an intraday, 15-minute chart showing action from early this morning to the current point.

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