After a sustained down turn over the past week and a bit BTC broke the trend and has been trading in sideways channel the past few days.
There have been a number of indicators including:
* 2 doji at a steep bottom on 27th;
* a golden cross on 28th with some decent volume; and
* and a bullish v reversal with a step on 28th and 29th.
With RSI showing momentum, supported by moderately bullish trendline and a new support line apparent at the top of the step ($11,300) I intend to buy in again between $11,400 and $11,700 and set my stop-loss at $11,280.
This will be a long trade, targets to be announced shortly.
There have been a number of indicators including:
* 2 doji at a steep bottom on 27th;
* a golden cross on 28th with some decent volume; and
* and a bullish v reversal with a step on 28th and 29th.
With RSI showing momentum, supported by moderately bullish trendline and a new support line apparent at the top of the step ($11,300) I intend to buy in again between $11,400 and $11,700 and set my stop-loss at $11,280.
This will be a long trade, targets to be announced shortly.
Comment:
Were in the buy-in zone 11400 - 11700
Comment:
Looks like I've called this right... so far...
Were still in the buy zone, it's very important that we hold above the 11,600 support line. Make sure you have your stop loss set at 11,300 just in case.
I'm going to call 3 targets, 1x short term and 2 x medium term.
Short term target is 12,900 - which is a big support and restistance line based on a head and shoulders I identified. TA image to follow, just wanted to get this out in case it moved quick.
Were still in the buy zone, it's very important that we hold above the 11,600 support line. Make sure you have your stop loss set at 11,300 just in case.
I'm going to call 3 targets, 1x short term and 2 x medium term.
Short term target is 12,900 - which is a big support and restistance line based on a head and shoulders I identified. TA image to follow, just wanted to get this out in case it moved quick.
Comment:
Image for Target 1 as follows:
This has moved quicker than I thought, let's hope we close above 11,600 resistance/support line and then I think things could move quick.
This has moved quicker than I thought, let's hope we close above 11,600 resistance/support line and then I think things could move quick.
Comment:
Buy-in: 11,400 to 11,700
Stop-Loss: 11,300
Target 1 - 12,900 (short term)
Target 2 - TBA (medium term)
Target 3 - TBA (medium term)
Stop-Loss: 11,300
Target 1 - 12,900 (short term)
Target 2 - TBA (medium term)
Target 3 - TBA (medium term)
Trade active
Trade active:
Broke the resistance line at 11,600, I expect it to hold and become support.
Next stop 12,900. I'm having trouble working out a 2nd and 3rd target, very tough to read.
Be safe and keep your stop-loss set at 11,300.
Next stop 12,900. I'm having trouble working out a 2nd and 3rd target, very tough to read.
Be safe and keep your stop-loss set at 11,300.
Trade active:
Seems to be holding 11,600 support.
Target 2 and 3 calculated.:
Buy-in: 11,400 to 11,700
Stop-Loss: 11,300
Target 1 - 12,900
Target 2 - 14,241
Target 3 - 15,411
Target 2 and 3 calculated.:
Buy-in: 11,400 to 11,700
Stop-Loss: 11,300
Target 1 - 12,900
Target 2 - 14,241
Target 3 - 15,411
Comment:
all comments welcome, including criticism. Like if you agree :-)
Comment:
Sitting right on the resistance line. This could go either way. Make sure stop-loss is set (11300)
Comment:
Is this going to be a failed break out? There's not much volume, weak bears are back and momentum is slowing. Let's see if it can bounce off the trendline around 11430.
Comment:
Looks to have bounced off the trendline. Should test resistance line of 11600 again. But volume and momentum is low.
Comment:
Is a breakout coming? Low volume and an ascending triangle the signs are there.
Comment:
Ascending triangle confirmed price and volume could spike suddently any time within the newt few hours. This further consolidates the estimate for our first target.
Trade active:
Trade is still active, we haven't hit stop-loss but it isn't looking promising.
Following is a longer term ascending traingle if this is broken then I would think this could be a failed breakout. Which would put us close to our stop-loss anyway.
Probably move to a 50 50 chance now
Following is a longer term ascending traingle if this is broken then I would think this could be a failed breakout. Which would put us close to our stop-loss anyway.
Probably move to a 50 50 chance now
Trade closed: stop reached:
This trade is closed, stop reached. There is some very unusual activity on the markets as a result of the who tether issue.