It’s been a pretty slow day in the bitcoin price space, and this has weighed on our ability to get into the markets. We had a pretty volatile end to last week, and some decent action over the weekend allowed us to draw some profit from a few positions, but the current action looks to be representative of the start of the week slumps we’ve seen across the last couple of months – range bound, no real breakouts, and when we do see a breakout, it doesn’t result in any sort of sustained momentum we can take advantage of. With this said, however, our framework is designed to be ready when we do get a return to volatility, and we can also bring our intrarange strategy in to play in an attempt to get in and out on some real short term range bound scalps. So, here goes. The chart below shows the range we are watching tonight.
As you can see, we are looking at in term support at 416 flat to the downside, and in