Bitcoin BTCUSD Update Next Buy and Sell Points
We have a low here on Bitstamp at 5920, on Bitfinex at
exactly 6000 and on Coinbase at 5873 - so far. Earlier in
London Bitcoin has been driven up through the upper parallel
that has been controlling this sell-wave from yesterday. It's
the first early sign that this is getting close to the bottom
now. It's finally trying to put up a fight here at these lower
levels...so on downside will not be looking for another short
unless 5900 is broken on Bitstamp and 6000 is broken on
Bitfinex - and even then will only be for 300 points or so to
5636 and if so will be looking to reverse long again at this
point if struck with stops 100 below
On the upside it's nothing more than a speccy buy at 6300
with a stop below 6200 - it's more risky than buying the
breakout as we don't know for sure that 6200 will hold out
yet. Otherwise we stand by for a potential break above the
upper parallel, looking for a successful restest from above
once broken...it then has to break above 6610 and hold there
to give us confirmation that the rally is good to go - look to
enter long positions if we see this price action develop.
Otherwise will look to get long again from lower levels later.
We have a low here on Bitstamp at 5920, on Bitfinex at
exactly 6000 and on Coinbase at 5873 - so far. Earlier in
London Bitcoin has been driven up through the upper parallel
that has been controlling this sell-wave from yesterday. It's
the first early sign that this is getting close to the bottom
now. It's finally trying to put up a fight here at these lower
levels...so on downside will not be looking for another short
unless 5900 is broken on Bitstamp and 6000 is broken on
Bitfinex - and even then will only be for 300 points or so to
5636 and if so will be looking to reverse long again at this
point if struck with stops 100 below
On the upside it's nothing more than a speccy buy at 6300
with a stop below 6200 - it's more risky than buying the
breakout as we don't know for sure that 6200 will hold out
yet. Otherwise we stand by for a potential break above the
upper parallel, looking for a successful restest from above
once broken...it then has to break above 6610 and hold there
to give us confirmation that the rally is good to go - look to
enter long positions if we see this price action develop.
Otherwise will look to get long again from lower levels later.
Comment:
Hey Bitcoin is making patterns for us again...that was continuation earlier prior to the breakout and this is too...and it made 450-650 points profit - can buy the next breakout above the upper parallel when it comes - and can close out the short 9if you follow the chat room) now on next minor dip towards 6850 line for a maybe 150 to 300 profit to use on stops for next long when it comes
Comment:
Bitfinex Chart
Low = 6000 Precisely. The Major Gann number Spooky
So far this pattern it's hammering out right now is continuation and so long as it stays that way and then breaks higher above the upper minor parallel we can follow it long again with stops below the parallel, whenever that break arrives.
On downside it would be helpful if it rallies from the larger, lower, rising parallel and holds at very worst at 6634 on this feed - only if it breaks below here will look to short again back to 6276 minimum and maybe back to 6000 - where it should hold this time around.
Low = 6000 Precisely. The Major Gann number Spooky
So far this pattern it's hammering out right now is continuation and so long as it stays that way and then breaks higher above the upper minor parallel we can follow it long again with stops below the parallel, whenever that break arrives.
On downside it would be helpful if it rallies from the larger, lower, rising parallel and holds at very worst at 6634 on this feed - only if it breaks below here will look to short again back to 6276 minimum and maybe back to 6000 - where it should hold this time around.
Comment:
So we got good break outs on all exchanges. Longs can now raise stops:
Coinbase. Stop under 6960 for break even if wrong from here- looks good on this chart so far though
Coinbase. Stop under 6960 for break even if wrong from here- looks good on this chart so far though
Comment:
Bitstamp Long
Stop under 6960 for rough break even if struck ...must push on up from here or we have a failed break ...can raise stop under it too if prefer to trap in most profit if it fails to push higher still...
Stop under 6960 for rough break even if struck ...must push on up from here or we have a failed break ...can raise stop under it too if prefer to trap in most profit if it fails to push higher still...
Comment:
Bitfinex Long
Bitfinex. Stop under 6980 on this one.Again can run stop up tight under it if preferred in case it fails to push to a new high right now...
Bitfinex. Stop under 6980 on this one.Again can run stop up tight under it if preferred in case it fails to push to a new high right now...
Comment:
raising stop again to under 7220 on Coinbase - looking to close out at 7434 and just under for another 500 plus points profit if struck before the stop is.
Comment:
Bitfinex Chart
Close out long...already testing resistance...look to go long again once 7500 is taken and held by bulls
Close out long...already testing resistance...look to go long again once 7500 is taken and held by bulls
Comment:
Bitstamp Can get ready to take profits here as 7458 is tested for 500 more profit. Then get ready to go long again once 7500 has been taken by bulls and held - or can choose to stay long and raise stop to just under 7250..
Comment:
Bitcoin Coinbase Chart
Another continuation pattern developing by look of it. Will we get 3rd time lucky today? Maybe- that first one yoielded 1100 from breakout to top and the second one yielded 1000 - that's 30% of Bitcoin so far today...maybe can get one more turn of the dice here ...looking to get long on a break above the upper falling parallel with usual caveats.
We can continue to play this game until the lower large rising parallel is broken on downside. At that point Bitcoin will likely turn near term negative again and we stop buying dips until it turns back to positive again.
(for full details see top left of sumastardon page)
Another continuation pattern developing by look of it. Will we get 3rd time lucky today? Maybe- that first one yoielded 1100 from breakout to top and the second one yielded 1000 - that's 30% of Bitcoin so far today...maybe can get one more turn of the dice here ...looking to get long on a break above the upper falling parallel with usual caveats.
We can continue to play this game until the lower large rising parallel is broken on downside. At that point Bitcoin will likely turn near term negative again and we stop buying dips until it turns back to positive again.
Comment:
Bitstamp
Must continue to hold the lower parallel and fixed support at 7400 to stay good from here.
Must continue to hold the lower parallel and fixed support at 7400 to stay good from here.
Comment:
Raise stop to 7660 on Coinbase for small 100 point or so profit if stopped out from here
Looks quite clear - cannot be bought until the upperparallel is broken above and retested successfully from above once broken....only then do we switch to buying again on this chart...
Bitstamp.
Gone straight to 6600 line and recoiled...failed but it's had a second attempt...it's not working yet but we are getting close to the bottom now...may have one last flush but it won't get very low now by look of price action today so far. So if you've been holding out to buy and not HODLing now could be the time to think about getting ready to buy - think downside is 10% max and upside is 300% ...roughly