NEOUSD Update and Next Trade Points It's been a week since the last scan across the top 20 or so coins. A lot has happened in 7/8 days. Remember that no coin is too low to sell and likelwise in a bull market no coin is too high to buy. Remember also that we play a game of probability. Some play momentum and volatility and some play hunches and mistaken beliefs....
BTCUSD: Bitcoin Update 2nd August 09:54 Bst 05:54 Est Bitcoin made the double bottom at 7465 after a little spike lower to 7453 on low volume overnight before reversing higher again. It's still a little weird that it stopped where it did. It may be manipulation and maybe not. It's not easy to say for sure. But it was a little strange and means we need to stay...
Bitcoin Chart Updates XBT A slow weekend of range trading has given way to an equally slow start come Monday. It's held up well through Saturday and Sunday but here is still no intererst above the 8298 line as yet. Spikes of desire off the 8070 line and rejection spikes above of equal dimensions from the 8298 line show equal indecision here at these levels. Unless...
Bitcoin Update 26th July 11:16Est 06:16Est Bitcoin was a buy on a break above the 8160 line yesterday (though by time comment went live it had already broken higher, sorry- busy day yesterday all round) It was also a buy if missed the first break on a return to the 8160 line overnight, with the low being 8163 since then. But the rally is a little lame so far...
S&P 500 SPX500USD Of the 3 charts followed for S&P 500 index, this one has been the most reliable recently. We were looking for S&P strength as the last but one of the Fangs report earnings with Amazon on 26th after hours. Google has helped overnight. After triple bottoming at the 2790 support line the S&P has rallied higher, making a little spike off the next...
Bitcoin Bitmex Chart Update XBT After 36 hours of consolidation Bitcoin has held above the key 7265 level after a spike low at 7243 on this feed and since then has survived a couple more retests. It's not ready to fall away yet therefore. Looks as if it will make another attempt to touch 7615 and maybe spike into the uppermost parallel again as yesterday - this...
BTCUSD: Bitcoin Trade Points From Here After a surprisingly active weekend of over 750 points profit (from 7579 before getting stopped out at 6825, stop was too close by about 45 points or so here, sorry) Bitcoin has moved back into neutral in the nearterm. On the Bitmex chart Bitcoin is now moving in a 200 point range bounded by near term resistance at 6860...
GBPUSD Sterling is unwinding its oversold condition by flipping within a near term range bordered by resistance at 1.3614 and support at 1.3462-1.3455. A break below 1.3450 will trigger the next short down to 1.3301. And on the upside a break above 1.3615 is required to arrest the downtrend and to start flipping more short stops for a 100 pip rally to 1.3715.
GBPUSD Update 31st May Month End Streling has fallen to the downside target at 1.3301 after a low at the old 1.3219 support line for a 150 pip or so profit. Eventually it should fall away further to the next support line at 1.3029 but in the near term the counter-rally is already pushing the upper dynamic at 1.3345. It should stop here really looking at this...
31st May FTSE 100 Index Update UK100 FTSE bounced away nicely off the support zone at 7600-7580 and really we should have reversed back long off 7600 with stops below 7580. My bad here. But it's beginning to struggle and if you were slick enough to reverse long again without prompting the long stop needs raising to just under 7680 here. Any failure to hold...
WTI: USOIL West Texas Intermediate Unlike on Brent chart there is only one clear and true reverse head and shoulders evident on the WTI chart (left shoulder not 'true' on the smaller one, yet so clearly evident on the Brent chart, please see companion forecast for UKOIL for comparison). So this chart is still forecasting longer term upward pressure to...
BTCUSD: Bitcoin Trade Set-Ups from Here The pattern Bitcoin is currently making is treacherous and too unclear to contemplate a trade at this point. It looks and feels more manipulated right now than ever - as if price is being left to run a little higher to stop hunt weak bears before it gets reeled back in again. It should only get as far as the upper...
ETHUSD Bitfinex Although it's bounced off the support line at 543 after a spike low at 538 ETH is still vulnerable until it clamber back above the 593 line here and hold up on the restest once it does so. If you bought off the 543 line here it's not a bad idea to take at least half off the table again if not all. It will follow Bitcoin as usual. Can buy again...
Bitcoin (Bitstamp) Update Just flipping up and down inside the continuation pattern so far still. What looks like 3 minor waves up so far - can be another one soon but still the pattern here is not worth trading unless playing off the minor parallels for scalps right now. As before it has to break the 8468 line here for a rally to 8539 where there is quite a lot...
Bitcopin Update Saturday 08:45gmt 03:45est So far the low this weekend is 8223, a couple of points below the next near term downside target at 8225. Bitcoin is now counter-rallying back to test the upper parallel at 8330-8350 and should come off again from here and from 8392 at highest before falling away to 8155 and ideally then to a low around 7946 on...
BTCUSD: Bitcoin Next Trades from Here 19:41gmt 12:41est This still looks corrective at this point. No big green impulse wave starting yet which would be the first signal that this is a real bottom here. It's the weekend coming up and still no sign of buyers in any numbers. But there is a chance so we need to cover it in case - it is holding here still at...
Bitcoin Trade Points Today Bitcoin was left looking at a counter-rally 'towards 9700 before it comes off again'. It took another 7 hours or so of whipsaw and confusion to get there but by 01:00 gmt/20:00est Bitcoin made a high at 9671, taking out more stops placed just below here in the mind-numbing game of Pacman/hunt the stop that lasted right through the...
ETHUSD Long Term/Short Term Price Forecast Per Adua ad Astra Long Term That low at 360 was as big and meaningful as Bitcoin's at 6000. Perfect Gann numbers too. Like, reeaally PERFECT. Those lows are equivalent of the lows reached in the first internet cycle when Nasdaq Composite fell from 5136 to 1118, a decline of 78% in magnitude, playing out in 4 large...