So the end of the week is here, and it’s time to take a penultimate look at the bitcoin price market before we kick off the weekend. Price has been pretty volatile across the last few days, and with this volatility has come plenty of opportunity to get in and out of the markets according to our intraday strategy. Overnight last night, however, things settled down a little, and we are heading into today’s European session on some relatively low volume.
This doesn’t mean there’s nothing to go at – we saw a spike a little earlier today and this spike has carved out a pretty nice range (after initially completing a breakout pattern), and so we know that volume, even being low, can move the markets.
Anyway, let’s move forward and get into the detail of today’s strategy.
The chart below is a five-minute candlestick chart showing the overnight flat action, and also illustrating the above mentioned breakout and spike into current prices. It’s got our range overlaid in green. As ever, take a quick look at that before we get started, to get an idea of our key range in focus.