Trying to trade the bitcoin price over the last few days has been pretty tough. Since the weekend – and in particular since the decline we saw heading into Monday morning session – we’ve pretty much been ranging sideways, but without doing so between any specific parameters. Having said this, our downside range now looks pretty consistent – especially when taking into consideration Tuesday night’s Asian session. The question today will be whether we can take advantage of what looke like the levels to employ a breakout strategy as we head into a fresh European session. So, with this said, let’s take a look at what we are watching today, and see where we can look to get in and out of the markets according to our strategy. Take a quick look at the chart.
As you see, the levels we are watching are 225.99 as in term support (a level that has seen a test and failure over the last 48 hours about three or four times) and 229.16 as in term resistance. This is the level that we broke during yesterday’s session and