BTCcoinsultant

BTCcoinsultant

Breaking $300 may be confirmation of a trend reversal and a new bull cycle.

BTCcoinsultant

Bitcoin prices are starting to converge with a rising wedge formation. $250 is my target breakout zone and at present levels a breakdown would occur if $235 is breached. The breakdown support line will shift to $240 if we keep moving within the range of this wedge.

BTCcoinsultant

Bitcoin markets feel bullish these days. A few weeks back I did a report indicating the importance of a $228 breakout to reverse a downward trend. Since then prices have been making higher lows and recently the markets had a $228 dump, which is an approximate 50% correction measuring between a high of $243 and a low of $213. Prices are now hovering above the...

BTCcoinsultant

The markets felt bearish yesterday, I knew if we hit $231 support again a breakdown was likely. I tested the waters by shorting around $234.50. Increased my position x3 on the market bounce at 233.80. Was lucky my trade executed on time because of the Bitfinex glitch. I was expecting the dump to last longer but buying pressure was strong and BTCChina was acting...

BTCcoinsultant

Looks like the bull run lost strength on the miniature double top reversal. Prices appear to be consolidating after two dumps and if we test $231 support again, a breakdown is likely. A strong green spike pushing past $236 may indicate another uptrend, yet if prices stay sideways, I'm anticipating a third dump.

BTCcoinsultant

Two failed attempts at breaking resistance around $244 was an indication the markets were losing strength. The markets dumped back down to the $231 area of support. Prices bounced to current levels of $235 and if this holds it may be an indication of a double bottom and an upward trend to test $244, with a potential breakout to $250. If however, the price tests...

BTCcoinsultant

Bitcoin prices have been trending upwards lately with higher lows. If the trend continues the next major point of resistance will be around $250. If the up trend breaks it's possible we'll see a dump down to $225. Our current support was prior resistance, the markets have been bullish because of the GBTC trading. Anticipating a breakout/down soon.

BTCcoinsultant

Closed my $228 long position on the second attempt at a breakout. Bitcoin prices appear to be on the edge of the next major move. If prices move back up along the blue trend line our next attempt at $238 may be a real breakout. If on the other hand prices fall down and we break $232 support I anticipate the potential for a dump back into the $220's.

BTCcoinsultant

In yesterday's chart I set $228 as my key breakout zone for a rally into the $230's. I had a buy order pre-set to trigger once $228 broke. We'll need to break $237 as the next level up. Will hold my position and consider scaling out if we hit resistance at $250 with the potential to buy back in on the retracement. I set a stop order at $230 as a precaution in...

BTCcoinsultant

I have $222 as my indicator for a potential breakdown and $228 set as a key area for a breakout into the $230's. Prices are fluctuating between these two areas and I have a 1.5% scalping range to get in and out of the markets "like a cold shower" until we break through this zone. Stop orders are set if prices move against me while I scalp this sideways action.

BTCcoinsultant

A recap over weekend price action. Prices were trending downwards because of the sharp red candles showing lower lows. $225 was the area before the price hike and a key zone to watch indicating a strong breakdown. After falling into a low of $213.92, buying pressure broke $216 resistance which indicated a good long opportunity for those quick on the trigger....

BTCcoinsultant

Bitcoin prices have been consolidating at the base of this downward trend. $200-$210 is an integral area of support. If it holds and we rally upwards we may get a bullish trend reversal. Breaking $300 is my indicator of being in a new bull cycle.

BTCcoinsultant

Yesterday's chart indicated that the $237 is a strong area of multi-layered resistance. Prices had a fake breakout and started to consolidate. I cashed out my $227 long at $235 as markets pulled back from resistance level for a 3.4% profit. I'm still holding my $219 long position with a stop order set at $230 as a safety net. I will scalp (without leverage) in...

BTCcoinsultant

Last week I bought in once I saw $219 was holding strong support. Yesterday I had my sights on $227 as my target breakout zone and added to my position once is broke. I'm watching $237 as the next key zone for an aggressive bull run because it intersects with many layers of resistance. $249 is my soft target to assess the strength of this run up. Will scale out...

BTCcoinsultant

Bitcoin prices are trending upwards with higher lows and healthy retracement. $216 was our bottom after the dump which is higher than the previous $210 levels. Prices showed strong support at $219 on 4 separate occasions. $227 is a key area of resistance and a breakout could move prices back up into the $230's.

BTCcoinsultant

Bitcoin prices are stabilizing after the 2013 bubble. After a year of high volatility and a downtrend, the bitcoin markets are starting to mature with higher trading volume to support current prices. $279-$280 may be a breakout zone for the next bull cycle. We've had a series of fake breakouts but prices continue to hold strong above $200. The Wall Street...