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BITCOIN: BTCUST Just fine thanksBitcoin: BTCUSD Just had to tear away over lunch to check the monster. Spoke of a low being made around midnight est, looks like it was 2am. The breakof the bigger parallel from the highs was good, green candles, everything you'd want from a 'good' break, but it was running too fast: 800 points or 9% in less than 3 hours...there is resistance there 10180 high from the big red candle to left of price on chart but didn't judge it strong enough (too many lines is confusing so try to strip it down, sometimes too much). Anyway, who spotted the continuation pattern that then followed as it came back to make an intermediate double bottom at 9365, right off the blue support...fixed and dynamic met at that moment and left a pin bar on the low...the continuation pattern: now 2 strikes = hot..and bam, she breaks the upper parallel, bit of a retest that works and up she goes. So now it's created another little impulse wave from that low at 2am est and is a buy of the lower parallel and sell off the upper (for day traders). If you have been trying to get long here and been stopped out on good longs look to buy on any touch of the lower parallel. Bitcoin stays good whilst within this wave in near term and looks aabsolutely fine again for medium and longer term too. And what's good for Bitcoin is good for the Alts/USD. Buy on dips. This could be a good weekend ahead. Back much later
BITSTAMP:BTCUSDLong
by sumastardon
OIL structure play with some potential patterns So, fellas, the blue rectangle represents a pretty strong resistance for todays price action. The level has been tested quite lot and we have a lack of price momentum right in that exact area. Further price decline will form a gartley pattern since the .618 level is around that resistance level I was talking about. Shorting now is an option. I would personally give it a shot. Trail stop order for some pips. However if we break the level and test it again with a bounce off it as a support level that would be a long signal and possibly the end of the downtrend since we just completed the monthly bat pattern that was standing just @ 42.00. We also have the green bat pattern which would catch the retracement of the eventual break of this key structure resulting in a test of it. Thats all, folks.
FX:USOILShort
by FeelsFX
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