Bitcoin Price Watch; The Upside Continues!

Here’s a look at what we are focusing on in the bitcoin price this morning.
We asked for action in the bitcoin price, and it’s action we got. Things haven’t been this active on the intraday charts for months, and it finally looks like price might make its way through the elusive 700 mark near term. If it does, we expect a considerable upside momentum run as the shorts are squeezed out of the market and price gains on covering. Whatever happens, the action overnight gave us plenty to go at, and we managed to get in and out of the markets according to the rules of our intraday strategy on a number of occasions. Interestingly, and good from both a long term and a short term holding perspective (well, strictly speaking, neutral on the short term side of things, but let’s be optimistic) all entries were to the upside, and all took out the take profits quickly and easily.

This post was published at NewsBTC on October 27th, 2016.