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Bitcoin: BTCUSD Next Buy and Sell Points TodayBitcoin BTCUSD Next Buy and Sell Points Today We left Bitcoin overnight to track the parallels lower to the next downside target at 8300 on Coinbase chart. The low so far is 8310. Close but no cigar. Bitcoin is still under pressure whilst unable to break above the dynamic which has clipped all rally attempts overnight - cannot be bought unless it breaks above this dynamic and regains 8610 and holds there - only if we see this price action develop can we go long for 9093 and a test of the upper larger parallel where will look to close and maybe reverse short again at that point if touched. But until we see that the selling pressure remains. It has to hold now at 8300 or we have another poor day about to unfold. Some day traders will buy here around 8310 but with stops close under 8300 and ready to reverse for small loss if wrong if 8300 is broken now. On the downside the next short kicks in on a break below 8300 . There's minor support at 8150 which may create a little bounce but the next support any significance below 8150 is at 7830 on Coinbase, then 7500 and finally 5656. A break below any of these levels by more than 30 points or so should lead to a test of the next level
COINBASE:BTCUSD
by sumastardon
Bitcoin: BTCUSD Update and next key buy/sell points Bitcoin BTCUSD Next key Buy and Sell Points Bitcoin is again trying to build a base from a new near term low established at 9515 on Bitstamp feed. It's made a right shoulder at 9912 support line since then and is trying hard to rally but finding resistance from the old parallel above it which had acted as support earlier on in this decline. It fell 2500 points or 21%, as standard decline for most major indexes in a major consolidation. Usually, after such a large decline Bitcoin often forms a V bottom as hungry buyers chase it back higher again. This is not the case today. Bitcoin cannot recover from here unless 10262 blue line is retaken and held by the bulls - only then will we look to go long again with stops 50 or so lower looking for 10547-10576 range initially and then the next level at the 10772 line to close out again. Day traders will likely close out at 10547 creating a wave of profit taking, looking to buy back 150 to 200 lower. On downside bears are still selling off that old parallel above price now and Bitcoin remains vulnerable whilst unable to regain 10262 level. To trigger the next short from here we need to see 9912-9900 broken but even then Bitcoin will look for support at 9750 line so this will only offer a quick short scalp in all likellihood. To turn outright bearish again now Bitcoin now has to bust below 9500 in which event it can be shorted again back to 9371 at least and likely to 9210-9200 where will look to reverse if struck with stops 50 or so lower. Short positions yesterday and overnight yielded around 860 points of profit to begin with but the final short from 9750 failed to reach the target and resulted in a 50 point plus loss, so just under 800 points or 8% in scalps. So long as Bitcoin keeps moving up and down we can make points. So long as half the world thinks it could be worth $50,000 and the other thinks it's worth $5 we have a big range to trade within. The biggest range in the history of speculation/investment. We don't need to even believe in Bitcoin or disbelieve either. We just need to follow the signals off the chart and try to follow them as best we can. Usuually the chart signals tend to work quite well with Bitcoin and produce large gains - and when they don't, as with the last short overnight, they produce smallish losses. And if you subtract those losses from the gains made over 3 months of intensive trading (resumed the hunt for Bitcoin in earnest on November 3, 2017) you'll find just shy of 27,000 points have been scalped from Bitcoin in that period. This was only possible because Bitcoin has moved both up and down so much in that time. Why seek to own a Bitcoin if it might only be worth $5 at the end of the day? Because it might also be worth $50k at the end of the day. Who knows, do you? Let others decide its true worth and in the meantime we can trade both sides of the argument until the day when arguing stops.
BITSTAMP:BTCUSD
by sumastardon
Bitcoin BTCUSD Sunday Update and buy pointsBitcoin BTCUSD Sunday After breaking lower early on in London on Saturday morning Bitcoin fell to a low at 10800 on Bitfinex feed - was meant to fall to 10750 at least once the break came, so not too good. Even worse, no buy orders were placed anywhere near the lowest levels...on the upside Bitcoin had to break above 11230 to trigger the next long, looking for resistance at 11336 which then needed breaking by the bulls to trigger a rally to 11646 initially and then on up through the resistance levels above it to an upside target at 12950. Having made that break Bitcoin did rally to 11646 level, spent 12 hours consolidating at these higher levels before a second surge of buying interest took it to a high overnight at 12190. Overall, Bitcoin is beginning to stabilise and absorb bad news by defiantly making higher lows with each new horror story to hit the market. These are signs of underlying strength. Institutions and traders are happy to buy the dips. Additionally, there is a bull case for calling Bitcoin up to 15770-15957 range on the back of a massive reverse head and shoulders formation, the neck-line of which was broken through yesterday. This pattern is a little sketchy so only the neck-line has been drawn in here, but the break came at the 11330 level on Bitfinex and has a minimum upside target of 4625 points, so 15955 on Bitfinex...time will tell In the nearer term Bitcoin is unwinding an overbought condition and can come back to 11646 again and potentially to 11500-11400 range at lowest before the rally continues. Look to buy the dip. Bitcoin is beginning to recover - but we still look to trade this monster rather than seeking to own it outright. So long as it keeps moving we can make a lot of points by following the breaks signalled by the charts, whichever exchange you happen to use
BITFINEX:BTCUSDLong
by sumastardon
2
GBP/CHF Short !?We are just about to break the upward Trend here and price already breaks the rising trendline on friday. Just below current price we can find an interesting s/r zone which needs to break before i consider a short entry because price could easily find support here and start to push up again . Without this s/r zone i would enter this trade depending on the monday open and daily price action but thats not the case so i will just sit on my hands until price reaches this s/r zone . So my plan for this pair is to wait for a break n close below the zone to enter a short trade. No break no Trade .....
Short
by Trueman23
Bitcoin for the Weekend - Key Buy and sell LevelsBitcoin BTCUSD Bitcoin rallied to meet the previous peak prior to news of the lastest hack on Thursday night, precisely on Bitfinex chart, before falling away again. Right now it's neutral as we await the next trading signal to trigger as Bitoin moves towards the apex of the triangle and hopefully reveals its hand so we can trade off that signal when it arrives. If at any point the lower dynamic support line gives way and then 11100 breaks Bitcoin will likely turn negative and trigger a short back to 10750 at least, and if this gives way back to 10497 where it will become a buy again if touched later today. And on upside it has move up above 11230 to trigger a long with stops under 11100 - resistance levels at 11336 and at 11438 then need to be broken and only when we see this will Bitcoin begin to attract more buyers again for move up to 11646 and on up through the restsance levels above it to an upside target at 12950. It's still positive whilst above the big rising dynamic but slow and lacking interest, and hence neutral now. So we await the next signal for the next trade here, as above.
BITFINEX:BTCUSD
by sumastardon
1
USD V Bitcoin Old Money v New: FIAT v LAMBO Speed of Change USD V Bitcoin Old Money v New: FIAT v LAMBO Speed of Change This is a fractal of a crypto move that we see almost every day in cryto-land. They see it in olde worlde FIAT time every few...years ! Seriously. But it's exactly the same kind of thing we see every day in the growing universe of 12 or so top coins that many of us trade daily. This is a good fractal, no? 1 year in olde worlde money = 2 days in crypo land, roughly, so roughly 125 times the speed of change with 250 trading days per year in the old world. Imagine going fishing a nd one big fish swims by ...per year. Are we not lucky?! The trading opportunities of a lifetime swim by almost every day. All we have to do is catch them. And if we miss one there's no great need for FOMO. there's another coming very soon. All we need is movement. Just so long as we get it we have trades and opportunities aplenty. Or you can take it real easy - and drive a Fiat currency instead. Good to resume service.
BITSTAMP:BTCUSD
by sumastardon
Bitcoin BTCUSD Update and key levels todayBitcoin Update The break above the flag after far East opened had just enough power to take it back to the previous high of the day but not enough to break higher still - it really had to achieve this in the first hour after the break above the upper parallel of the continuation pattern - but only double topped before falling back once more to the break-out level before rallying one last time to a new high for the new day before getting sold off as London opened (hight at 08.30GMT). That pin bar created in the process means there is some serious near term selling power overhead. If you have raised/trailed your stops as each blue line is regained by the bulls (to just a few points under the line once broken above) then only about 200 points more profit have been locked in*. Those that got long when 14002 was broken above and held for the second time - with a technically near-perfect restest from above coming soon after (see chart) - have been rewarded with an 1800 point gain, so far, if not stopped out higher still. But it's a heart-breaker if you followed advice to raise stops to 13675 - the low was 28 points lower - turning a really good trade bad for those who followed it. Worse than being wrong, the most painful of all trades are those that are right but with wrong stops. The lesson for 2018 is to know that stops need widening now from 50 to 100 points in past to 100 minimum and 200 to 300 maximum -because price has more than doubled in the interim period. So if still long here we need to raise stops to just under the 14539 blue support line. Bitcoin should reach a minimum upside target at 16887 as a consequence of the reverse head and shoulders but to stay good in the very near term it must now continue to hold up at 14539 at lowest during the course of today - any failure to do so will trigger a short back to 14010 with a stop 100 lower if we see it. On Upside, The first minor resistance is here, at 14900 and Bitcoin has to push through here to stay positive now in near term. It's likely then to move sideways to up to retest 15077-15130 range and then to consolidate again before moving higher still, with each blue line being the likeliest points at which to expect near term resistance/consolidation to occur. So we stay long, looking to increase positions on a break above 15500 for further strength up to 16506 . Bitcoin only turns negative from here if 14530 gives way - only then do we enter into short positons again, looking for retest of 14010, where we would look to reverse back to long again with stops 120 below, at 13880 . *For newer traders any break above an upper flag parallel must have enough power to carry it above the last high (top of flag-pole to immediate left on chart) and should do it within the next hour or so of the break-out occurring - some flag break-outs only have the power to double top and some are full of intent, as we saw with the first flag breakout from the 13770 level yesterday. So, for future reference: watch the break-out in that first hour after it happens - if it stumbles and creates a little pin bar on 15 or 30 minute chart right around the last high it's a good clue that buying power is waning here - this is when Chart V Heart problems can arise - you want to stay long but the chart is saying it's topping out and losing upside momentum - you must follow the chart at that point, especially if the next candle starts red from the outset and cannot make it above the last candle. It's VITAL that you study breaks - they are our life-blood, the things we need to open new trades. Get a good understanding of breaks and failed breaks and you will be 80% of the way to making good returns on trades and not letting profits slip away because your heart ruled your head and the chart therefore got ignored. Overcoming natural human emotion and managing stops are our 2 biggest challenges as traders - not identifying patterns and trades.
BITSTAMP:BTCUSDLong
by sumastardon
2
TRXBTC - Cup and Handle (LONG)It appears that TRX is in the process of forming the "handle" after a "cup" that's been formed from over a decently long period of time. Given the apparent consistency with the normal characteristics of this charting pattern, I would recommend those who are looking to place long positions on TRX to wait until we hit the bottom of the handle formation, which I expect to be as low as 387 satoshis (previous resistance became new support). Happy trading!
Long
by yeeyee2020
11
Bitcoin BTCUST 2018 Infinity and BeyondBitcoin BTCUSD 2018 Well the last day of trading Bitcoin in 2107 was a difficult one. We managed to bag 450 or points from 13000 to 13460 early on (and day traders another 300-450 trading the range from 13000 to 13150, also earlier in London session) but then lost the plot as the day wore on with two poor trades centered around the 14000 level which lost 50-150 points each time. So it wasn't a grand-stand finish to the year, unfortunately, and on a bad day we ended up just 150 points or so ahead (maybe 450 or so if day trading). But in 60 or so days of fairly intense mining we have extracted over 19,000 points from Bitcoin if you go back and total the trades. So it took about 2 months to buy Bitcoin outright and still have some change left over. No one can say what 2108 holds in store. But just so long as the great mine in the sky remains open for business we have to work it. There may never be an opprtunity like this again in our lifetimes...how often does mankind attempt to put a value on Ether? Never. Bitcoin has a value of somewhere between $5 and $50,000. That's all we can say. But that is one hell of a range to play inside...a range we are basically making up as we go along. That creates a wonderful, big space for traders to play within. So long as Bitcoin keeps moving fast we should be able to make some good returns again this year coming. And if we only average a paltry 200 or so point return each day as yesterday, that translates into 1400 points per week and will therefore take just 10 weeks for us to own Bitcoin outright through traded profits. And that in turn means we buy Bitcoin 5 times over in a year. So by working this mine systematically and intensely and by looking to trade patterns and not price, we should be able to make good returns for as long as it stays open to us. Please Pay this Forward These commentaries on the life and times of Bitcoin began in earnest 60 days ago - mostly because seeing some of the forecasts by Tradingview's 'top' writers covering Bitcoin and how vague and confusing and ultimately unhelpful they can be just twanged my vibes so strongly that I had to do something about it. It began as an experiment in human nature - am old, pretty much retired but still totally addicted to charts, especially in 'bubble' type situations because the chart is just a temperature gauge showing how 'hot' people feel in aggregate about product 'X'. It is human nature in the raw, displayed on screen. People make patterns. And people don't change. Each generation tends to think it's smarter than the one that went before it - their cars are faster, safer, they'll be driving themselves soon; their toys are way cooler - pretty much everything except music and movies is just ...better. So the confidence of each new generation is understandable to an extent. But the truth is that human nature itself never changes. We react in exactly the same way to fear and greed as we always did. Deep down, under the surface absolutely nothing has changed. We're human, is ALL. So we track and trade the recognisable patterns that humans make across the chart - the same patterns humans always tend to make across the ages - whether that's the patterns made in 1927-1933 at the end of the 'roaring' Twenties or the patterns made by the Tokyo bubble exactly 60 years later (1987-1993) or the patterns made by Nasdaq from 1997-2003 or the patterns made now by Bitcoin (2017-2023?) ...they are all the same. With one big difference: time. We know Bitcoin moves something between 60 and 100 tmes faster than pretty much any speculative instrument ever devised by man so far in all history. What happens on the SandP over weeks is displayed here in hours. It means that there are roughly 60 to 100 times more opportunities to open trades in Bitcoin than there are to open trades on SandP, obviously. One is just a fractal of the other. All we have do is watch for patterns to develop, identify them, and trade them.
BITSTAMP:BTCUSD
by sumastardon
3
UK100: FTSE100: Short and longer term Forecasts for 2108 FTSE 100 Index UK100 Short and Longer term Forecast for 2018 Fantastic straight-line break-out finally achieved by FTSE 100. Bull markets climb walls of fear. That wall is Brexit. FTSE keeps climbing and pays the nay-sayers no heed. They are the most slow-witted fools remaining. But never forget, the market needs mugs. The 80% losers pay for the 20% winners' dinners, most days. That's just the way the numbers fall. The breakout has been one long green candle - but it's only got a little more upside to 7818 and/or to test the upper parallel that contains the rally come Tuesday opening. Look to close out longs into the final move upwards - and if the high at 7704 is not broken above early on - or price flips back to the lower parallel at arounnd 7634 and then goes on to double top at 7704, then again, look to close at least half long positions if you see price stick at 7704 or just under on this kind of price action. FTSE should then fall back to 7635 at least, and ideally back to the the big break-out levels at 7597-7580 at absolute lowest before it rallies hard once more, likely by this stage to move up through 7703 and 7818 to the next important resistance potential at 8348 over the more medium term (first 6 to 8 weeks of new year, roughly) Longer term views on both FTSE and SandP remain unchanged: Both indexes continue to climb their own different walls of fear (Brexit and Trump). Both love the outcomes. Paradigm shifts. Complete game-changers, both events. After 14 to 16 years of sideways to down markets we have begun the greatest secular bull run that many younger investors will have ever experienced. Both markets are expected to rise at least 4 times and potentially 6 times from start 2016 prices over the coming 14 years or so. Stay long if a long time holder and pay this forecast no heed whatsoever. This is for day traders or for those wishing to get long here ready for an excellent 2018 in store - for this market in particular. Super Long Term SandP secular analysis:
FX:UK100Long
by sumastardon
Bitcoin: BTCUSD Still trying to make its escape even nowBitcoin: BTCUSD The big lower parallel came to Bitcoin's rescue and gave as good reason as any to close out shorts from here...but it didn't quite hit the line perfectly, which was then lying at 12028 - the low of the day was in fact 12050 - so quite close, 22 out, but no cigar. If you managed to get out and switch long close to the lows you therefore did really well. We were then looking to switch long to 12480 for about 400 points - but should have stayed much longer (in hindsight) as Bitcoin went on to rise by another 700 points or so. Not good. But OK in tricky conditions. Right now Bitcoin is busy hammering out a little flag with 2 strikes on the lower line. If this can hold up and not revisit the lower parallel now Bitcoin will stand a chance of another temporary escape - but to do so it will have to break above 12987. Only then would it worth risking a long for 500 points to 13480. On the downside the lower small parallel of the putative flag formation has to hold up at all costs now to stop Bitcoin falling away to 12301 -12255. If this then fails it will fall at least back to the low at 12050 and more likely lower still to 11923 and to the big lowest parallel at any selling extreme. At all costs the lower big parallel must continue to hold this decline or it will go into a bigger tailspin. And should it fail and then 11090 fail to hold at any point over the weekend it will tip Bitcoin further into very negative territory, forcing price lower still, to 10486 to start with and then, once this fails back to 8342.
BITSTAMP:BTCUSD
by sumastardon
Bitcoin BTCUSD Happy Bitmas to You and YoursBitcoin BTCUSD. Christmas Day What kind of sad tw@t would be writing on Bitcoin today? Hi there. So how's Bitcoin behaving over Christmas? It rallies all morning in Europe and then at 12.45 GMT as everyone goes to lunch and buyers dry up it falls 1200 points to the lower line of what is now a developing continuation pattern, and, as usual tracking parallels. Jeez. If we'd known that was going to happen that could've paid for lunch a few times over. Maybe next year now we know... So Bitcoin swings across the globe into the hands of the USA for a few hours - who don't look too interested either way, but Bitcoin does top out at 1.30 EST - do you guys eat a little later than UK on Christmas day ? Anyway, now I figure most will have finished, as Bitcoin has started to rally again....so next Christmas day maybe we have an idea of how this behaves...no one around and it goes down. Amazing. Who'd have thought? Looks like it will grind higher but still be subject to fairly sharp drops - just don't want to be buying this high and then getting whipped out in zero volume conditions - so can only think of buying if the lower parallel is tested with a stop 50 or so under the line - but when Bitcoin skips across the Pacific to land in the far East volume should start to rise, and they are more likely to be buyers than sellers...but the chart will confirm - or deny - this for us...can get pushed up to 14648 but not likely to get much further without Eastern buyers and some volume...if you see this some time around the open or within an hour at most and 14648 is broken through it can be followed for 800 points or so up to 15509. It should come off again from here, if not from 15814 later on though. On downside there is near term minor support here, at 13982 with stronger support at 13717-13679, where the lower parallel lies now - Bitcoin must hold up off this line on all retests to avoid falling back into negative territory, most likely driving price back to the left hand structure that began this move at 12617 -12500 with smaller counter rallies most likely off the blue support lines at 13456 and 13086. Any break below 12500 would trigger another good short back to 11391-11165 range.
BITSTAMP:BTCUSD
by sumastardon
3
Golden Cashening Watch BTG BCH BTCTHIS IS NOT TRADING ADVICE THIS IS NOT INVESTMENT ADVICE DO YOUR OWN DUE DILIGENCE FOR EVERY TRADE AND INVESTMENT YOU MAKE I am a holder of bchusd and btgusd I have jettisoned all my btc... I chuckle when I see the 'camps' of bch (minority) versus btc (majority) versus btg (tumbleweed) holders Also at day and swing traders and various parties with skin in the game pontificating and waxing lyrical And waning lyrical!!! What will be will be... And whilst I'm not a chartist, the charts to me are telling all... Forget about the FUD and your greed... Just look at the 3 month charts... As per O'Neil, the bchusd and btgusd charts are forming massive cup and handles surely?!? As such I think we have around 2 weeks before the handle finished forming... Timed perfectly to coincide with CME futures on btc and other news?!? Timed perfectly to coincided with btc 20k territory?!? Let's see THIS IS NOT TRADING ADVICE THIS IS NOT INVESTMENT ADVICE DO YOUR OWN DUE DILIGENCE FOR EVERY TRADE AND INVESTMENT YOU MAKE CUPS AND HANDLES AS PER O'NEIL AND stockcharts.com Cup: “U” shaped CHECK Cup should usually retrace 1/3 or less of the previous advance (could retrace upto half though) CHECK Handle: final consolidation/retracement; up to 1/3 of the cup's advance, but usually not more; wait for the break above the cup rim resistance line, with volume Timing: Our cup took only a few weeks to form, which is a little quick actually; handle is usually 1-4 weeks. So chill people Target: measure the distance from the right peak of the cup to the bottom of the cup. THIS IS NOT TRADING ADVICE THIS IS NOT INVESTMENT ADVICE DO YOUR OWN DUE DILIGENCE FOR EVERY TRADE AND INVESTMENT YOU MAKE
B
by Doc-al-Citadel