Bitcoin Price Watch; Trading Intrarange Today

So today we’re going to do something a little different, and focus on intrarange action as a primary strategy in our bitcoin price trading. Normally we set up our range based on the potential for breakouts, and enter short term scalp trades towards relatively tight targets when price breaks and closes above the levels that define the range. Instead of doing that today, we are going to widen out our range a little bit and look to enter on any internal reaction to price hitting the levels in question. So, as get started on this fresh European morning, here is a look at what we’re going for, and where we will look to get in and out of the markets according to our intraday strategy rules. As ever, take a quick look at the chart below to get an idea of the levels in focus, and see what happened overnight in the bitcoin price during the Asian session.

Screen Shot 2016-08-18 at 11.54.35

Screen Shot 2016-08-18 at 11.54.35

As the chart shows, we are currently trading midrange between our predefined range of support to the downside at

Read more ... source: NewsBTC USA