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
House Rules Politicians Must Disclose Crypto Investments Above $1K
Members of the House of Representatives, the lower chamber of the U.S. Congress, must begin disclosing cryptocurrency investments that exceed $1,000.
The guidance was laid out in a June 18 memo dra
Robinhood CEO: It's 'Very Foolish' to Rule Out Bitcoin
More than a million people signed up to trade cryptocurrencies in the days after mobile trading app Robinhood first announced the feature, co-CEO Vlad Tenev at the Future of Fintech conference on Wedn
Singer Akon Announces Cryptocurrency and Plans for Real-Life 'Wakanda'
Add Akon to the list of celebrities who are launching their own cryptocurrencies.
The 45-year-old "Smack It" singer announced Monday at Cannes Lions International Festival of Creativity that he not
The SEC Just Froze One ICO's Accounts for a Second Time
The U.S. Securities and Exchange Commission (SEC) is once again taking action against a co-founder of the PlexCoin cryptocurrency project, having previously sued him over securities violations and fra
Enigma Protocol to Integrate Smart Contracts Tech With Intel Systems
Intel is working with blockchain startup Enigma to help secure its privacy-enhancing smart contracts.
As previously reported by CoinDesk, secret contracts are a type of smart contract for public bl
Bithumb $31 Million Crypto Exchange Hack: What We Know (And Don't)
On Wednesday, roughly 35 billion Korean won (around $31 million) in cryptocurrency was stolen by hackers from the South Korea-based exchange Bithumb.
Although the breach may not be as severe as the
A UK Exchange Is Launching Litecoin Futures Trading
U.K.-based cryptocurrency futures trading platform Crypto Facilities is launching a litecoin (LTC) derivative product.
According to an announcement on Wednesday, the new U.S. dollar-denominated ser
Brazil's Central Bank Plans Blockchain Data Exchange for Regulators
Brazil could soon have a new blockchain platform to ensure the authenticity of information exchanged between the country's financial authorities.
Brazil's central bank, Banco Central do Brasil (BCB