Bitcoin Price Watch; Let’s Get Another Profit Hit

It’s Tuesday morning, and time to take a look at the bitcoin price for the first time today. Action during yesterday’s session was pretty kind to us, and we managed to get into a short term trade on a downside break for a small profit. So as we head into today’s session, we’re going to look to get into a similar trade, with our strategy defined by a relatively tight range and some scalp entries on breakouts. We will probably also look at some intrarange action, given the width of the range afforded to us from overnight trading.  With this in mind, let’s get to the detail. As ever, take a quick look at the chart below to get an idea of what we’re focusing on. It is a five-minute intraday candlestick chart showing the last twelve or so hours worth of action in the bitcoin price, and it has our range for today overlaid in green.

Screen Shot 2016-08-16 at 11.24.11

Screen Shot 2016-08-16 at 11.24.11

As the chart shows, the range we are looking at for today is defined by support to the downside at

Read more ... source: NewsBTC USA