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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Bitcoin Price Watch; Profit on the Cards – NEWSBTC

Samuel Rae
Samuel Rae
1 year ago
2 mins read
Trend

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Ad discliamer

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

That’s another day done, and once again it’s been a pretty interesting day of trading in the bitcoin price from an intraday perspective. Price just keeps giving us opportunities to get in and out of the markets, and our strategy has been ready to take advantage of these opportunities on pretty much every signal. We’ve had a couple of crossovers, so every box isn’t ticked, but when we compare action over this week and last to action at the end of September/early October, it’s night and day.

We’re not done yet.

The European session might be over, but we’ve got plenty of US action to go, and the Asian session won’t be far behind. So, with this in mind, and as we head into the just mentioned periods, here’s what we’re chasing.

The chart below shows our key levels, and shows action from somewhere in the region of the last twelve hours in the bitcoin price.

screen-shot-2016-11-02-at-19-09-06

As the chart shows, our range in focus for this evening’s session is defined by in term support to the downside at 729 and in term resistance to the upside at 737.

These levels are just about wide enough for us to go at rice with an intrarange strategy, but we are going to focus on breakout alone for now, purely based on the fact that that is the way price seems to be responding to key levels right now. This may alter if things flatten out.

So, if we see price break through resistance, we will look for a close above that level to validate an upside target of 745.

Conversely, a close below support will signal short towards 720. A stop loss on both positions a few dollars either side of the entry should help to keep risk nice and tightly defined.

Happy trading!

Charts courtesy of SimpleFX

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Samuel Rae
Samuel Rae

Samuel Rae

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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.

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