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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Price Watch; Here’s What’s On Tonight 2017-12-14

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.

So that’s another day drawn to a close in the bitcoin price space and it’s time to take the second of our twice daily looks at how bitcoin has performed over the last twelve hours or so and how we can interpret this action and formulate a strategy with which we can try and draw a profit from the markets going forward.

In a nutshell, things have been relatively flat over the last few days.

We’ve seen price bump around its target ranges and the odd breakout has given us something to trade now and again but – as compares to the action we saw throughout the week last week – things have been relatively low key so far.

The hope is that this will change heading into the weekend and that, in line with this change, we’ll get a substantial uptick in volatility.

So, with this noted, let’s get the levels in place that we intend to 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 and where we are looking to jump in and out of the markets if and when 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 using for the session this evening is relatively unchanged from that which we outline this morning.

Specifically, we are looking at support to the downside at 16400 and resistance to the upside at 16598.

If we see price close above resistance, we will get in long towards an immediate upside target of 16650. Conversely, a close below support will have us in short towards a downside target of 16350.

Let’s see how things play out.

Charts courtesy of Trading View

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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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