Bitcoin Price Watch; Trading A Narrow Range

The close of the week is fast approaching, and we’ve had a pretty volatile week in the bitcoin price. Things started off pretty slow, and we thought that we were setting up for a relatively flat week. As things turned out, that wasn’t what we got. We managed to get in and out on a variety of strategic approaches, including breakout scalp and intrarange, and we are closing out the week net up on the markets – that is, if we don’t have too bad a day today. Action overnight last night gave us plenty to look at as far as setting up our target levels for today’s session is concerned, so let’s get down to the detail. Before we get to the numbers, take a quick look at the chart below to see what happened last night, and get an idea of the range in focus for today. The chart a five-minute candlestick chart showing the last twelve hours or so worth of action. Screen Shot 2016-08-19 at 13.06.33

Screen Shot 2016-08-19 at 13.06.33

As the chart shows, we are going for an extremely tight range

Read more ... source: NewsBTC USA