So we are drawing to a close on yet another day of bitcoin trading and, unfortunately, it’s not been a great one from a price perspective. We said this morning that we were looking for some degree of sustainable long-term recovery and that an extended period of consolidation would provide the floor we were looking for.
As it turns out, however, we haven’t got what we wanted.
This doesn’t mean it won’t come – we’ve seen this sort of action weigh on price before – but it does mean that sentiment is decidedly weak.
All we can do is stick tight with our strategy and try to make sure that we are ready for anything that does happen, be that from an upside or a downside perspective.
So, with this said, 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. It’s a one-minute candlestick chart and it’s got our primary range overlaid in black.
As the chart shows, the range we are looking to employ …
View Full Article