Bitcoin Price Watch; Monday Morning’s Targets

It’s Monday morning, and time to take a look at the bitcoin price for the first time this week. Action was nice and volatile last week, and price gave us plenty of opportunities to get in and out of the markets according to the rules of our standard intraday strategy – in long on a break of resistance and in short on a close below support, with a take profit set somewhere in the region of a two to one risk reward profile. Our intrarange strategy has been put to one side as of late, primarily because the ranges with which we have been trading have been a little too tight to go at with an intrarange system, while still maintaining a positive risk reward profile. This doesn’t mean it’s useless though, and if we get a decent range for today’s session, we’ll go at price accordingly.

So, with that said, let’s take a look at what we are focusing on right now. Take a quick look at the chart below to get an idea of our primary focus range. It’s an intraday chart with the last twelve hours or so worth of action in the bitcoin price highlighted, and our

Read more ... source: TheBitcoinNews