Bitcoin: BTCUSD
Still marvel in amazement at the classical way that this thing behaves...It is a text-book chart of the future for absolute
sure. How long can it go on ? Time will tell..no stops at 7830 and above have been touched, so we're still riding this
monster as she dives deep, and so far haven't been thrown off her back
There is minor support at 6445, then it starts to get more serious and may start whipping around more (so far, the
classic nature of this decline has been very kind to us...wasn't even that hard, though managing stops drives all traders
nuts.) Next potential support is the uptrend line from lows earlier in the year, and it could get a good bounce from here -
and there's a chance it could even be the low...don't think so but we need to keep an eye on it. The ideal low/target is still
6312 ...if this develops into a full blown selling climax we should see a spike to 6312 and then it regain the rising
support line at 6355 - depending how she blows, there is still a fair chance that we'll see 6165 touched, but each of the
support lines shown on the chart has the potential to create a rally up to the line above it as we reach lower levels. Got to
eat sometime. Good luck . And take a look at that parabola again...see how once it breaks below it the game is totally over ? Amazing
Still marvel in amazement at the classical way that this thing behaves...It is a text-book chart of the future for absolute
sure. How long can it go on ? Time will tell..no stops at 7830 and above have been touched, so we're still riding this
monster as she dives deep, and so far haven't been thrown off her back
There is minor support at 6445, then it starts to get more serious and may start whipping around more (so far, the
classic nature of this decline has been very kind to us...wasn't even that hard, though managing stops drives all traders
nuts.) Next potential support is the uptrend line from lows earlier in the year, and it could get a good bounce from here -
and there's a chance it could even be the low...don't think so but we need to keep an eye on it. The ideal low/target is still
6312 ...if this develops into a full blown selling climax we should see a spike to 6312 and then it regain the rising
support line at 6355 - depending how she blows, there is still a fair chance that we'll see 6165 touched, but each of the
support lines shown on the chart has the potential to create a rally up to the line above it as we reach lower levels. Got to
eat sometime. Good luck . And take a look at that parabola again...see how once it breaks below it the game is totally over ? Amazing
Trade active:
Levels of resistance for rallies until tsrget is met: 6618 and 6712 are the most likley levels where this should turn down again..any rally to 6712 can be used to sell more if seen
Comment:
lower stop to just above 6570 to trap in most of this run in case it turns up...shouldn't but never know for sure...