In this morning’s analysis, we noted that the latest action in the bitcoin price allowed us to bring a step-up strategy into play; specifically, shifting our key levels to the upside on every move in line with the overarching bias, in anticipation of a continuation. Unfortunately, we seem to have come to a corrective phase, and that’s made our strategy difficult to execute. We got into a trade a little earlier today, but having failed to pick up any real upside momentum, the bitcoin price broke back to the downside and took out our stop. Having said this, we bounced from the level we slated as resistance and now trade at a level pretty much identical to where we started the day – mid range on this morning’s definition.
This gives us an opportunity to replay this morning’s strategy this evening, with some slightly altered levels that take into account recent movements. So, as we head into tonight’s session and beyond into the Asian Friday morning open, where are we looking to get in and out of the markets on any volatility? Take a quick look at the chart to find out.
Read more ... source: TheBitcoinNews
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