It’s been a strange week in the bitcoin price yet again. We’ve seen some technical patterns, some consolidation, and even – thankfully – some breakout action from which we’ve been able to place trades according to our intraday strategy. Unfortunately, it looks as through we might be in for a relatively stagnant end to the week. Action overnight on Thursday was pretty uninspiring, and while it did get us un to a long trade (which we remain in as things stand), we pretty much just saw a gradual upside run characterized by tight, narrow frame candlesticks. We’d like to see two things today, before the end of the US session and what we might officially call the weekend.
The first, a solid close above or below one of our key levels to give us an excuse to enter a final position and the second, a sustained run in the direction of or entry that carries us through to our target. I guess as an addendum third, we’d like to see our current trade remain net black and close out profitably also.
So, with this in mind, what are the levels we are looking to trade as we head into this morning’s European