Bitcoin Price Watch; Pegging Our Scalp Trades

Here’s a look at what we are focusing on in the bitcoin price this morning.
It is Tuesday morning, and time to take a look at the bitcoin price for the first time today. Action overnight was pretty weak, as it has been for the majority of the last few days, and we didn’t really get any opportunity to get in and out the markets as we would have liked. This doesn’t mean that we aren’t going to see any action today, but it may weaken our key levels purely because we haven’t had any recent breakouts. As has been pretty standard so far this week, we are going to stick with a really tight range, and try to go at price on a breakout of our range, entering scalp positions towards relatively tight targets. This way we get to keep our risk management tight, but still get the opportunity to draw a small profit from the market on any volatility. So, with this said, let’s take a look at our range in focus, and the levels we will be targeting if we get the breakouts we are looking for. As ever, take a quick look at the chart below to get an idea of what’s on before we get into the details. It is a five-minute candlestick chart showing the last 12 hours or so worth of action.

This post was published at NewsBTC