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Friday, May 5, 2017

Bitcoin Price Watch: A New Pattern

Bitcoin Price Watch: A New Pattern

Regular readers will know we’re all about the short term intraday ranges in our bitcoin price watch analyses. Generally, we set up against the markets with a couple of key levels, as dictated by recent price action, and look to enter on a close above or below these key levels towards some relatively well defined (but always predefined) exit points.

Sometimes, however, it’s nice to mix things up a bit.

This evening, we’re going to do just that.

Take a quick look at the chart below before we get into the detail. As usual, it’s a five-minute candlestick chart, but it’s not got our standard intraday range overlaid – instead, we’ve got a classical charting pattern in play for the evening session.

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