For the last few weeks we have been going at the bitcoin price using the five minute charts. This has worked out ok on a number of occasions – we’ve managed to stay net up on the market every week – but it has been a little slow as late. Why? Because price hasn’t moved around that much within our predefined ranges, and our entry points have been limited. Today, we are going to zoom out a little and go for a fifteen-minute focus, and see where that takes us. With any luck, we can get into a nice intrarange trade (the wider timeframe affords us a little bit more room within the range) and ride out on the momentum. We’ll also be looking at breakout, of course, in case we get some volatility and see the beginnings of a medium term trend.
So, as ever, get a look at the chart below before we get started to get an idea of the range in question for today’s session. The chart is a fifteen-minute candlestick chart (as mentioned) and shows the last day of so worth of action.