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Topic: [2016-05-17]Bitcoin Price Watch; Range Tightened, Trades Ready (Read 226 times)

legendary
Activity: 1596
Merit: 1027
Bitcoin Price Watch; Range Tightened, Trades Ready

We are approaching the close of the European session in the bitcoin price, and one look at action throughout the day reveals that there has been very little worth trading. We defined a relatively tight range earlier on this morning as a return to our breakout strategy, but price has traded pretty much flat, and well within our range, throughout the entire session. This sort of flat action is very difficult to work with as it is indicative of indecision. Indecision pretty much always translates to false breakouts, which in turn, translate to choppy and unpredictable action...

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