We are closing in on the end of the European session in the space on Friday and the end of the week is fast approaching. This has been something of a rough week for many traders and holders, with price maintaining a pretty substantial downside trend throughout the majority of the major sessions and only temporarily recovering from said trend on the odd occasion.

As far as executing on our intraday strategy is concerned, however, things haven’t been too bad.

All we really look for is volatility and so it doesn’t really matter that price had been declining so long as the decline brings with it breaks of and subsequent sustained momentum beyond the initial break.

As we move into the session this evening, then, that’s exactly what is on our wish list. We want sustained momentum, volatility, and, only as a final addition to the list, some degree of upside reevaluation into the .

So, with all that said, let’s get some levels in place that we can use to take advantage of this type of action as and when it plays out. As ever, take a quick look at the chart below before we get started so as to get an idea where things stand and where we are looking to jump in and out of the markets when we get the signals we are looking for.

The chart is a one-minute candlestick chart and it has our primary range overlaid in green.

- Screen Shot 2018 01 12 at 15 - Bitcoin Price Watch; Key Levels Heading Into The Weekend

As illustrated, the range we are using for tonight’s session is defined by support to the downside at 13768 and resistance to the upside at 13895.

If we see price close above resistance, we will enter long towards 14000. Conversely, a close below support will signal a short entry towards a downside target of 1350.

Charts courtesy of Trading View

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