Bitcoin: BTCUSD So close to slamming freezer on this now
Updated
Bitcoin Update Update from 20 minutes ago, embargoed
stopped out of last trade for 50 point los, and up to 100 if
looser. It's finding support and building pin bars off the blue
old resistance line from the old highs.
Should stooge around a little longer, moving between 7830
and 7719 before likely moving up again. If 7719 gives way
between now and early on as far Eastern markets open
it should find support off the recent highs at 7510 and off the
lower big parallel too. looks more likely, as the pattern stands
now, to move sideways off 7719 line, turning old resistance
into major support, should it continue to hold as envisaged.
So it's a buy now and over the next hour or so. And if this
level holds, you can probably call it the freezer lid. If it holds,
Bitcoin is finally tagged, bagged and now so close to having
the freezer lid slammed shut. If we see this price action
evolve over coming couple of hours only then can we maybe
claim the trophy. If so, let it ride, lock the freezer and hide
the key and let's see where it takes us. We only need to worry
if 7719 gives way. Well done. So close now to throwing away
that key.
Stops need to be uder 7700 as if it fails it should test 7570
where it becomes a buy agin with stop under the parallel.
stopped out of last trade for 50 point los, and up to 100 if
looser. It's finding support and building pin bars off the blue
old resistance line from the old highs.
Should stooge around a little longer, moving between 7830
and 7719 before likely moving up again. If 7719 gives way
between now and early on as far Eastern markets open
it should find support off the recent highs at 7510 and off the
lower big parallel too. looks more likely, as the pattern stands
now, to move sideways off 7719 line, turning old resistance
into major support, should it continue to hold as envisaged.
So it's a buy now and over the next hour or so. And if this
level holds, you can probably call it the freezer lid. If it holds,
Bitcoin is finally tagged, bagged and now so close to having
the freezer lid slammed shut. If we see this price action
evolve over coming couple of hours only then can we maybe
claim the trophy. If so, let it ride, lock the freezer and hide
the key and let's see where it takes us. We only need to worry
if 7719 gives way. Well done. So close now to throwing away
that key.
Stops need to be uder 7700 as if it fails it should test 7570
where it becomes a buy agin with stop under the parallel.
Trade active
BitcoinNow perched at the top and hammering out support there,
moving towards the parallel beforre likely exploding north
again.Buy again at 7740- 7670 area with stop below the
pararallel. We can only consider shorting from here if the
parallel breaks and becomes resistance at any point today.
Note
7573 should be the low...was not convinced about that lower parallel if you remember...now I am...perfect hit on low at 7573 now and it's perfect ..after adjusting for exact lows through this run... very spot on now...good! It's a buy here with stops under the adjusted parallel.Note
Upload limit embargo is still on...something wrong with server...that 7573 is the low and has to stay that way now for Bitcoin to stay positive from here. It's a buy here with stios below the parallel (now adjusted and trustworthy)
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