Bitcoin Price Watch; Looking Ahead to Asia

We are heading into the close of the European session on Monday, and it’s time to sort out our strategy for this evening’s trading. In this morning’s analysis we highlighted a pretty wide range, and based it on the latest swing lows and swing highs that presented themselves over the weekend. When we published the analysis, the bitcoin price was trading just shy of resistance, and so our immediate bias was to the upside. Having said this, we also framed a downside entry, and the width of the range paved the way for a potential intrarange approach as well.

So, with this said, how has today’s action affected our strategic approach for tonight, and given this effect, where will we be looking to get in and out of the markets according to any one of our standard intraday strategies this evening out of Asia? As ever, get a quick look at the chart below to see what range we are focusing on, and to get an idea of how action in the bitcoin price played out during today’s European session.

Screen Shot 2016-05-23 at 16.58.21

Screen Shot 2016-05-23 at 16.58.21Read more ... source: TheBitcoinNews

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