The trading day has now drawn to a close out of Europe, and it’s time to take a second look at the bitcoin price markets and see if we can’t outline an intraday strategy for this evening’s session out of Asia. Things have been pretty flat today, and since our intrarange strategy was off the table (by way of a narrowed range) we haven’t managed to get into any short term trades. It’s not a problem – at least we haven’t taken any losses – but it’s a little bit boring to sit through, and even more so to read about. With this in mind, let’s quickly move on to the action this evening.
The chart below is an intraday five-minute chart with today’s action displayed as candlesticks across the timeframe. It’s got our range highlighted in green, and it’s going to be what we work from for this evening’s session and – beyond – in to early morning Europe on Wednesday.
So, without further ado, let’s get started.
As the chart shows, we are focusing on a range