NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Price Watch; Chopped Out But Moving Forward

Samuel Rae
Samuel Rae
1 year ago
2 mins read
Trend

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

In this morning’s article, the primary focus was the widening out of our bitcoin price range, and how we would use this wide range to trade an intrarange strategy. Ironically, it’s the first time we’ve done this in a couple of weeks, and it has gone against us. Normally, we implement a breakout strategy in anticipation of price breaking through our key levels and continuing as part of a sustained run in a particular direction – be that long or short. In this instance, however, we looked to trade on a correction from resistance (entering short toward support) or on a bounce from support (long towards resistance). We did this, and then action went and broke through resistance earlier on today, taking us out of a trade for a small stop loss hit and rendering our strategy invalid for the remainder of the session.

We are now about to head into the close of the European session, however, and we can take into account recent action to implement a breakout strategy this evening. So, with this said, and as we move forward, here are the levels we are focusing on for this evening’s session.

Screen Shot 2016-06-01 at 17.01.26

As the chart shows, tonight’s interim support sits at 537, while resistance to the upside comes in at 552. This latter level is the most recent swing high, so let’s address this first. If price breaks above resistance, we will look to enter long towards an initial upside target of 560. A stop loss on this one somewhere in the region of current levels – i.e. 548 – works well to define risk. Looking the other way, if price breaks below support it will signal a short trade towards 530. A stop loss at 540 keeps things tight to the upside.

So that’s it for tonight, dropping the intrarange approach and moving forward with a strict breakout strategy. Watch us get chopped out again…

Whatever happens – Happy Trading!

Charts courtesy of SimpleFX

Tweet123Share196ShareSend
Samuel Rae
Samuel Rae

Samuel Rae

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin To Repeat Parabolic Phase From 2017 And 2021? Here’s The Target

Bitcoin is currently on the path to holding a strong footing above $109,000 after reclaiming the $108,000 price level in...

Scott Matherson 4 hours ago
Ethereum

Ethereum Breaks Higher With Conviction: No Signs Of A Breakdown Yet

Bankr, in a recent update, pointed out that Ethereum is maintaining its upward momentum, backed by solid volume and a...

Godspower Owie 5 hours ago

$400M Crypto Seizure by Secret Service Highlights Why Cold Storage and Best Wallet Are Essential

The U.S. Secret Service has now seized over $400M in digital assets, all of which are stored in a single...

Aaron Walker 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin price news

Bitcoin’s Liquidity Lifeline Just Got Cut—What You Need To Know

Jake Simmons 1 hour ago
Ethereum Range Tightens – Liquidity Looms At $2,800 And $2,350

Ethereum Range Tightens – Liquidity Looms At $2,800 And $2,350

Sebastian Villafuerte 2 hours ago

FUNToken’s P2E Model Isn’t Just a Game: It’s a Scalable Digital Economy

NewsBTC 2 hours ago

Premium Sponsors

Press Releases

  • 3 altcoinuri de urmărit în prima săptămână a lunii iulie 2025

    3 minutes ago
  • XRP versus Shiba Inu: Care criptomonedă are șanse mai mari să creeze milionari?

    XRP versus Shiba Inu: Care criptomonedă are șanse mai...

    25 minutes ago
  • XRP, SOL, LTC holders turn to OPTO Miner to earn $5,777 in...

    4 hours ago
  • More and more XRP and ETH holders are turning to APT Mienr...

    4 hours ago
  • XRP versus Shiba Inu: Care criptomonedă are șanse mai mari să creeze milionari?

    ...

    6 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.