Bitcoin Price Watch; Here’s What’s On This Morning

By August 24, 2016Bitcoin Business

SPONSORED ARTICLE:   Tech Analysis articles are sponsored by SimpleFx – “Keep it simple!” , SimpleFX is a robust online trading provider, offering trading with Forex CFDs on Bitcoins, Litecoins, indices, precious metals and energy. Offers and trading conditions simple and transparent. So, we’re half way through the week, and things are hotting up in the bitcoin price from an intraday perspective. After what was a pretty slow day yesterday, we saw a little bit of up and down overnight and then this morning, just as European markets kicked off for the day, we got a spike in price and some fresh intra-weekly highs produced. Spikes like this are great because they not only serve as an opportunity to get into the market on the breakouts they represent, but they also give us some pretty solid levels to use as our defining range parameters. In this instance, with the spike being an upside break, we can use its peak as resistance. Sometimes if the pull back from highs is strong enough we can also use the pullback to set our support. With this on, unfortunately, it’s not really strong enough to allow us to do so. No problem though. We’ve got a pretty solid support definer at the most recent swing low, so we’ll work with that instead. So, with this in mind, and as we head into a fresh European morning session on Wednesday, here’s a look at how we are setting up against the markets, and an outline of where we will look to get in and out of our positions given this setup. As ever, take a quick look at the chart below to get an idea of what we are focusing on. It’s a five-minute candlestick chart. We are going to after price with our […]

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