Once again, let’s kick things of with a chart. The chart below shows the action we saw in the bitcoin price across the Wednesday evening session, and has the range we defined as being the one to watch across the session overlaid.
As illustrated, the chart shows price breaking through our pre designated in term support shortly after our publication of the analysis, and pretty much immediately running up to takeout our target (well, a small correction aside) at 444 flat.
Following the breakout, sideways action ensued, as the bitcoin price consolidated and the shorter term speculators took profits from the market.
The overarching trend still seems to be to the upside, but action has been a little bit choppy, so its tough to say whether this will continue throughout the morning session on Thursday. Either way, here’s what we are looking to trade in the bitcoin price this morning. Take a look at the chart below to get an idea of our range, and our targets and stops for the session. It’s a fifteen-minute candlestick chart (the same