Bitcoin Price Watch; Tonight’s Key Levels

We are closing in on the end of session on Friday it’s time to take the last of our looks for the week what has happened in the bitcoin price today and where we expect things to go as we move forward into the weekend and beyond.

Action, as expected, has been pretty volatile today, with a number of key level breaks translating to some pretty nice entry opportunities, at the same time, some relatively unfavorable chop outs.

As we move into Friday evening, we fully expect action of the same sort. It would be nice to see some solid upside momentum but, as we have said all week, it’s impossible to predict with any certainty whether this will play out.

All we can do is set up against the levels presented and treat them as and when price breaks through them.

So, with this noted, let’s get these levels in place. As ever, take a quick look at the chart below before we get started so as to get an idea where things stand right now. It is a one-minute candlestick chart and it has our primary range overlaid in green.

As the chart shows, then, the range that we are using for the session this evening comes in is defined by support to the downside out 11635 and resistance to the upside at 11734.

Standard breakout rules apply right now, so we will look at entering long on a close above resistance towards an immediate upside target of 11900 and, on the trade, we will use a stop loss at 11700 define risk.

Conversely, if we see price break down below support, we will look out for a close below this level to validate a downside target of 11530.

Let’s see how things play out this weekend and we will revisit early next week.

Charts courtesy of Trading View

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The end of the week is here and it is time to put forward the penultimate of our twice daily bitcoin price pieces for the session today. During the session on Thursday, action across pretty much the entire cryptocurrency space translated to something of a recovery and, while price in many of the majors remains down on its end of 2017 levels, the correction looks to have – somewhat – bottomed out and things are starting to strengthen once again.

The hope is that this strength will remain into the weekend and that, if it does, we will see a continuation of the upside action throughout next week and beyond. Of course, it’s tough to say with any certainty whether we will see what we want but, whichever way price moves, we should be able to get in and out for a few decent trades so long as we see some degree of volatility across the sessions in focus.

So, with all that said, and with crossed fingers in anticipation of a continuation of the upside momentum that began yesterday, let’s put some levels in place that we can use to draw a profit from the market as and when things move during the session today.

As ever, take a quick look at the chart below before we get started so as to get an idea where things stand and where we are hoping to get into the markets as action matures.

As the chart shows, the range we are looking at for the session today comes in as defined by support to the downside at 11617 and resistance to the upside at 11784.

If we see price close below support, we will enter short towards 11520. Conversely, a close above resistance will signal an upside entry towards an immediate upside target of 11900.

Let’s see how things play out.

Charts courtesy of Trading View

We are closing in on the end of another session out of Europe on Thursday and once again there’s plenty to discuss in the bitcoin price. Things have been pretty volatile this week so far (well, pretty volatile is something of an understatement) and we’re currently looking at a substantially weakened price as compares to the prices we were looking at towards the end of last year and into the early part of 2018.

With that said, however, most of the major tokens and coins have gained strength during today’s session, with sentiment easing somewhat heading into the US afternoon. The hope is that this shift to positive sentiment will continue and, in turn, will serve up a continued recovery across the major assets in the space – of which bitcoin, of course, is very much the flagship right now.

So that’s what’s happening behind the scenes – what’s on the horizon nearer term?

Well, that’s what we’re here to figure out.

As ever, take a look at the chart below before we get into the nitty-gritty of our intraday analysis. The chart is a one-minute candlestick chart and it’s got our primary range overlaid in green.

As the chart shows, then, the range we are looking at for the session this evening comes in as defined by support to the downside at 11579 and resistance to 11809. That’s a pretty wide range but we’re going to stick with our breakout strategy for today, just to make sure we aren’t taking on too much risk with careless intrarange entries.

So, if we see price close above resistance, we’ll jump in long towards a target of 12000 flat. Conversely, if we get a close below support, we’ll be in short towards a downside target of 11480.

Let’s see how things play out and we’ll revisit on Friday morning.

Charts courtesy of Trading View

It’s Thursday morning and it’s time to get moving on our twice daily bitcoin price analysis for the start of the European session. Things have been moving pretty fast throughout the session and, as many reading will almost certainly be aware, price is down pretty much across the board in the crypto space on the back of a couple of key fundamental developments. Well, the fundamental developments got things moving and this led to a whole host of collateral selling, primarily rooted in idea that people are unloading positions in anticipation of things falling further.

When we see this sort of action in the bitcoin price (and indeed in the wider cryptocurrency space), all that we can really do (from a long-term perspective) is to hold on to coins in anticipation of a return to the overarching upside momentum. Things could fall further but selling out at these levels is only going to compound the recent action and weaken the market.

From an intraday perspective, however, there’s no directional bias. We can jump in long if things start to strengthen but we won’t hesitate to get in short if things break to the downside.

So, with all this in place, let’s get some levels that we can use for the session. As ever, take a quick look at the chart below to get an idea where things stand before we get started. It’s a one-minute candlestick chart and it’s got our primary range overlaid in green.

As the chart shows, then, the range we are looking at for the session today comes in as defined by support to the downside at 11439 and resistance to the upside at 11637.

We’ll get into a long trade on a close above resistance, with a target of 11750. Conversely, a close below support will have us in short towards a downside target of 11325.

Let’s see what happens.

Charts courtesy of Trading View

We are closing in on the end of the European session in the bitcoin space on Friday and the end of the week is fast approaching. This has been something of a rough week for many bitcoin traders and holders, with price maintaining a pretty substantial downside trend throughout the majority of the major sessions and only temporarily recovering from said trend on the odd occasion.

As far as executing on our intraday strategy is concerned, however, things haven’t been too bad.

All we really look for is volatility and so it doesn’t really matter that price had been declining so long as the decline brings with it breaks of key levels and subsequent sustained momentum beyond the initial break.

As we move into the session this evening, then, that’s exactly what is on our wish list. We want sustained momentum, volatility, and, only as a final addition to the list, some degree of upside reevaluation heading into the weekend.

So, with all that said, let’s get some levels in place that we can use to take advantage of this type of action as and when it plays out. As ever, take a quick look at the chart below before we get started so as to get an idea where things stand and where we are looking to jump in and out of the markets when we get the signals we are looking for.

The chart is a one-minute candlestick chart and it has our primary range overlaid in green.

As illustrated, the range we are using for tonight’s session is defined by support to the downside at 13768 and resistance to the upside at 13895.

If we see price close above resistance, we will enter long towards 14000. Conversely, a close below support will signal a short entry towards a downside target of 13250.

Charts courtesy of Trading View

It is Friday morning and it’s time to take the penultimate of our final two looks at what happened in the bitcoin price across the last 24 hours or so and how we expect things to move near 10 in an attempt to piece together a strategy that we can use to draw a profit from the market if and when things move.

As many reading will likely already be aware, it has been a pretty rough week as far as sentiment (and in turn, price action) is concerned. A range of fundamental developments have translated to some severe weakness in the markets and bitcoin doesn’t seem to have any ability to counter this dip in sentiment – at least near term.

What this has meant is that things just keep declining without any reprieve or, perhaps more accurately, without any sustainable and supportable reprieve.

Anyway, all we can do is play levels as we see them. So, let’s get some support and resistance parameters in place that we can use near-term and see if we can find a positive against the backdrop of substantial negativity.

As ever, take a quick look at the chart below before we get started so as to get an idea of where things stand and where we intend to jump in and out of the markets if and when we see things move.

The chart is a one-minute candlestick chart and it has our primary range overlaid in green.

As the chart shows, the range we are looking at for the session today comes in as defined by support to the downside at 13328 and resistance to the upside at 13535.

If we see price close below support, we will enter short towards an immediate downside target of 13250.

conversely, looking the other way, if price closes above resistance, we will enter long towards 13650.

Chart courtesy of Trading View

We are about to close out on another day of trading in the bitcoin price and action today has been something of a wild ride. Price started the day looking as though it was set to weaken throughout the majority of the European session and, as the early morning played out, these expectations were validated. Midafternoon, however, things picked up a little bit and price managed to recover much of the strength that it lost at the start of the day.

Moving into the end of the day, however, things have once again taken a turn for the worse and bitcoin looks as though it is set to give away much of the gains seen early afternoon before the day draws to a close.

So long as we can get some levels in place that we can, in turn, use to take advantage of the volatility that we are seeing, it doesn’t really matter in which direction price moves. Of course, we would much rather see some upside momentum but our intraday approach isn’t picky and so we won’t be either.

So, with this noted, let’s get some levels outlined that we can forge ahead with and try to draw a profit from any action that we see going forward. As ever, take a quick look at the chart below before we get started so as to get an idea where things stand. The chart is a one-minute candlestick chart and it’s got our primary range overlaid in green.

As the chart shows, then, the range we are looking at for the session this evening comes in as defined by 13674 to the downside (serving as resistance) and 13807 to the upside serving as support.

If we see price close below resistance, we will enter short towards 13550. Conversely, a close above support will signal a long entry towards 13910.

Let’s see what happens.

Charts courtesy of Trading View

We are closing in on the end of the week and things are particularly bleak right now in the cryptocurrency space as a whole. We noted last night that it looked as though price was finally staging something of a recovery and, with regards to the bitcoin price in particular, we saw the reaching and subsequent breaking of a number of key resistance levels which we felt might be able to hold as support.

As it turned out, we were wrong.

Price did break a couple of key resistance levels but has since fallen back through these levels to collapse towards current levels in and around $13,000 apiece – considerably off end of the year highs from back in 2017.

Where things go from here is anybody’s guess.

We are going to reiterate something of a bullish bias, based on the fact that – at current levels – bitcoin looks cheap as to recent pricing. In turn, this should serve to attract some value seeking capital and, by proxy, push price back to the upside.

This is speculative, of course, and we have to be ready for whatever happens.

So, as we move into the session today, let’s try and get some levels in place that we can use moving forward. As ever, take a quick look at the chart below before we get started so as to get an idea where things stand. The chart is a one-minute candlestick chart and it has our primary range overlaid in green.

As the chart shows, then, the range we are looking at for the session today comes in as defined by support to the downside at 13258 and resistance to the upside at 13378.

We will look for a close above resistance to validate an upside entry towards a target of 13480. Conversely, a close below support will have us in short towards 13160.

Charts courtesy of Trading View

We are closing in on the end of the European session and it’s time to take the second of our twice daily looks at what happened in the bitcoin price today in an attempt to figure out if there’s any way we can use the action we’ve seen to put together a strategy for tonight’s trading.

And it seems as though we can.

Finally, during the session today, we’ve seen something of a reprieve in sentiment and the markets are starting to turn around. It’s taken a little longer than we’d hoped but that’s not important right now – what is important is that price is able to hold onto its recovery driven gains and find key support as it returns towards highs.

And with our intraday strategy, we’re hoping to take advantage of each of these major support levels as and when they come into play.

So, with this noted, let’s get some levels in place that we can use for the session going forward.

As ever, take a quick look at the chart below before we get started so as to get an idea where things stand. The chart is a one-minute candlestick chart and it’s got our primary range overlaid in green.

As the chart shows, the range that we are looking to use for the session this evening comes in as defined by support to the downside at 14603 and resistance to the upside at 14699. We’re going to stick with our breakout strategy for the time being, meaning we’ll be looking to enter a long position if we see price close above resistance. On this one, we’ll target 14800 to the upside and a stop at 14650 will define risk.

Looking the other way, if price closes below support, we’ll enter short towards a downside target of 14500.

Let’s see how things play out.

Charts courtesy of Trading View

So we are now midway through the week and things haven’t been particularly easy from a bitcoin price perspective as far as long-term holdings are concerned so far. Price took a real dip overnight yet again and the bitcoin price currently sits in and around $13,800 – more than 30% down on all-time highs.

As ever, when we see a dip like this, it translates to a substantial degree of weakened sentiment and generally results in an increased weakening effect purely based on the fact that people are selling in anticipation of further decline.

As most who have been in the space for a while will know, these depreciation periods aren’t too much of a concern and can often serve up nice opportunities to pick up cheap coins ahead of a longer-term return to the overarching upside momentum.

That’s the hope, anyway.

Whatever happens, we’re going to stay the course with our intraday strategy and make sure that we are ready to jump in and out of the markets as and when we get any favorable movement.

So, with this said, let’s get some levels in place that we can use for the session today. As ever, take a quick look at the chart below before we get started so as to get an idea where things stand. The chart is a one-minute candlestick chart and it has our primary range overlaid in green.

As the chart shows, the range we are looking at for the session today comes in as defined by support to the downside at 13763 and resistance to the upside at 13912.

If we see price close above resistance, we will enter long towards 14050. A stop loss at 1380 looks good.

Conversely, a close below support will signal a short entry towards 13660. A stop loss on this one at 13800 works well from a risk management perspective.

Charts courtesy of Trading View