So thatâs another day complete in our bitcoin price trading efforts and â yet again â weâve had a pretty decent one. When we trade against a backdrop of the sort of market conditions that weâve seen over the last few weeks, itâs hard not to draw a profit from the market. We arenât being cocky in saying that, there are some conditions in which itâs impossible to pull a profit. With that said, weâve always got to be careful when things are going well. Price can only travel so far before correcting and, while we have seen some degree of short term correction in the markets over the last couple of days, things are very much with the bulls and that can only last so long. When the correction does eventually come, of course, we can just shift our approach to one that favors the downside and work from there. So long as our targets arenât overly aggressive and our stops are tight enough to make sure we donât get caught on the wrong side of an irretrievable loss (but also not too tight that we keep getting chopped out), weâll be fine.
So, with this in mind, letâs get things in place for this eveningâs session. As ever, take a quick look at the chart below to get an idea of where things stand before we move into the late US session tonight. Itâs a one-minute candlestick chart and itâs got our key range overlaid in red.
As the chart shows, then, support comes in at 3240 and resistance come in at 3282. Price is trading right at the latter of these two levels right now, so weâre on the look out for a close above this level to validate an immediate upside entry towards a target of 3310. A stop at 3272 defines risk nicely.
Charts courtesy of Trading View
PlexCoin Founder Gets Jail Time, Fine on Contempt Charge
U.S. and Canadian authorities appear determined to make an example of a recent initial coin offering.
On Friday, a Canadian court ordered a two-month jail sentence against PlexCoin creator Dominic
'Bitcoin Jesus' is 'really, really concerned' about the future of the digital currency
An early bitcoin investor said Monday the digital currency can run higher, but the hype has far outpaced its usability. "I think in the short run it can run up a lot more," Roger Ver, CEO of
Bitcoin has aspects of a bubble, but it's OK to 'play' with it: Economist Robert Shiller
Bitcoin has "aspects of a bubble" but it's almost impossible to know whether it's gone too far, Nobel-winning economist Robert Shiller told CNBC on Monday. Bitcoin has been on a wild ride
Futures Launch Puts Record Bitcoin Highs Back in Play – Yahoo Finance
Digital currency bitcoin begins trading on major exchange for first time in Chicago WLS-TVBitcoin Futures Started So Hot That Trading Had to Be Halted Twice FortuneBusiness Insider Â âCNNMoney Â â
Understanding Futures: A Primer for Bitcoiners
Lanre Sarumi is the CEO of Level Trading Field, an interactive online platform for professionals in the finance industry.
"Study the past if you would define the future." – Confucius
Bitcoin Price Back Above $17k to Set New All-Time High
The price of bitcoin has pushed back above $17,000, hitting a new all-time high on CoinDesk's Bitcoin Price Index (BPI).
As of press time, the BPI had climbed as high as $17,382.64, beating the $17
People are taking out mortgages to buy bitcoin, says securities regulator
Bitcoin is in the "mania" phase, with some people even borrowing money to get in on the action, securities regulator Joseph Borg told CNBC on Monday. "We've seen mortgages being taken out to buy
Two Firms File Bitcoin ETF Applications in Wake of CBOE Futures Launch
Two exchange-traded fund (ETF) providers have filed with the U.S. Securities and Exchange Commission (SEC) to create Bitcoin ETF products that trade in cryptocurrency derivatives.
According to the