BITCOIN: BTCUSD Next buy point and triple play in quiet market
Bitcoin: BTCUSD One quiet Saturday playing Bitcoin V Mon-Fri 9-5 job. Do the math.
Whilst above 7717 key near term support the bulls are still in charge here. The opening in China will likely drive price down
but it should hold up off the lower parallel and down to 7717. Touches here are buying opportunities with stops under 7000
line and if they produce pin bars will show that Bitcoin is still quite
strong at these levels - and so long as 7717 continues to hold all is good for Bitcoin. It's making a small continuation pattern
prior to moving higher by look of current price action. A break above the small dynamic holding price back right now on chart
is the next signal to go go long/increase longs.It should then continue to grind higher to
7980-8000 where it becomes a sell for day traders if 7970 is touched. The 250 points of profit (200 after spreads) can then
be risked on two trades, depending on risk profile and whether day-trading. If there looks to be still no real volume
as prices move up to 8000 consider reversing current long at 7990 with stop 40 points higher looking for 150 -200 points on
the downside. But be ready to reverse and flip long again if we see 8030 broken at any point (blowing the short stop for
40 loss) and particularly if higher volumes accompany this break out attempt above the key 8000 barrier - (a big green
candle tells you this, you don't need to see a volume indicator to know this, really) - look to get long with stop 110 points
under 8000. If it then fails you end up breaking even. But if it wins and breaks 1000 points higher ...(last weekend we made 1450
points, but the market was more fluid then. This weekend, so far has been very quiet. so am only hoping for 250 to 7780 and
(maybe 170 short from 7990) - but it still beats working Mon-Fri - even when it's quiet. Am moving stop to 7700 for 30 loss
if wrong from here. You don't need to believe in Bitcoin. You don't even need to own Bitcoin for more than a few days at a time.
You just need to trade Bitcoin when the chart tells you it's Ok to do so, using stops. We've taken over 3000 points out this
thing in exactly 2 weeks that's 38% of the total value of Bitcoin - in 2 weeks. Without owning it. All calls are there to check.
Whilst above 7717 key near term support the bulls are still in charge here. The opening in China will likely drive price down
but it should hold up off the lower parallel and down to 7717. Touches here are buying opportunities with stops under 7000
line and if they produce pin bars will show that Bitcoin is still quite
strong at these levels - and so long as 7717 continues to hold all is good for Bitcoin. It's making a small continuation pattern
prior to moving higher by look of current price action. A break above the small dynamic holding price back right now on chart
is the next signal to go go long/increase longs.It should then continue to grind higher to
7980-8000 where it becomes a sell for day traders if 7970 is touched. The 250 points of profit (200 after spreads) can then
be risked on two trades, depending on risk profile and whether day-trading. If there looks to be still no real volume
as prices move up to 8000 consider reversing current long at 7990 with stop 40 points higher looking for 150 -200 points on
the downside. But be ready to reverse and flip long again if we see 8030 broken at any point (blowing the short stop for
40 loss) and particularly if higher volumes accompany this break out attempt above the key 8000 barrier - (a big green
candle tells you this, you don't need to see a volume indicator to know this, really) - look to get long with stop 110 points
under 8000. If it then fails you end up breaking even. But if it wins and breaks 1000 points higher ...(last weekend we made 1450
points, but the market was more fluid then. This weekend, so far has been very quiet. so am only hoping for 250 to 7780 and
(maybe 170 short from 7990) - but it still beats working Mon-Fri - even when it's quiet. Am moving stop to 7700 for 30 loss
if wrong from here. You don't need to believe in Bitcoin. You don't even need to own Bitcoin for more than a few days at a time.
You just need to trade Bitcoin when the chart tells you it's Ok to do so, using stops. We've taken over 3000 points out this
thing in exactly 2 weeks that's 38% of the total value of Bitcoin - in 2 weeks. Without owning it. All calls are there to check.