In this morning’s bitcoin price watch article, we noted that the range we were focusing on in the bitcoin price was probably a little too tight to bring an intrarange strategy into the equation, but for an aggressive trader, it would probably be possible to draw a profit under some strict risk management parameters. We also discussed some breakout entries, and outlined a few key levels that we would look to take a position at if, and when, the bitcoin price closed above or below them respectively.
Action has now matured across the European morning session, and we are about to head into the US afternoon, and beyond that, Friday evening out of Asia. The weekend’s have traditionally offered up a lot of volatility, and with mainstream attention focused on the crypto space (on the back of the Nakamoto furor), chances are this weekend will be no different. That is, we’re expecting some volatility – be it as part of a continuation of the current overarching uptrend, or a reversal and a decline to the short side (as we saw at the Sunday open last week).
Whatever price offers up, we’ll be ready to get into the markets no a sustained directional