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BTCUSD: Bitcoin - Next Trade Points Today Bitcoin Bitfinex Update 14: 24gmt 09:24est Having hit the near term target Bitcoin is unwinding off the underside of the upper parallel of what is still a large continuation pattern - it should spend some more time moving sideways to downwards as it consolidates the recent break higher and day traders take their profits and some reverse short too. It can come back to 9290 and to 9250 at likely lowest before it rallies again. The next resistance above 9348-9361 lies at 9436 followed by 9500-9560. 13:55gmt 08:55est Bitcoin Bitfinex Break Examined The first break above the dynamic was an initial failure and it came back 50 points to the support line again around 9180 to make a 3rd wave down - we look for 3/4/5 wave sequences usually but with Bitcoin usually 4's. The 4th minor wave took Bitcoin back above the dynamic and was followed by a retest of the same line from above (not quite touching the same line again, doh) before it finally moved in a near straight line higher, with one last chance to get long at the 9250 just a few minutes ago. Stay long for now. Day traders will close out at 9350 though most likely... 13:42gmt 08:42est The dynamic has been broken and triggered the next longs. The rally so far is not particularly great but it is bear engulfing - it can come back some again from 9300 and just under without some volume kicking in here - but it's Ok and despite some sideways movement and back to the 9250 line it should rally later to 9348 and potentially higher still On the downside Bitcoin has to break below 9160-9150 to trigger further near term weakness and a potential short back to the 9064 line where it should bounce once more. Bitcoin Bitfinex Update 10:29gmt 05:29est Although it's had a reasonably positive overnight start the rally has still not reached the next upside target at 9348 on this feed yet. Since reaching an overnight high at 9292 Bitcoin has fallen back some and looks to be cosolidating off the 9183 line. It cannot be bought again until the dynamic off the overnight high is broken to the upside in which case can follow long with stops under the dynamic when broken. *For updates in real-time please see link, top-left of main page
BITFINEX:BTCUSD
by sumastardon
11
BTCUSD Back to Positive: Next Trade Points from Here Bitcoin Bitstamp Update After the break higher Bitcoin has spent the night consolidating recent gains. It's a buy again once the dynamic from the overhight high has been broken above with stops below the 9224 line when the dynamic is broken above. Until then Bitcoin is still in consolidating mode and moving sideways to unwind using the 9175 line as support as it does so. So near term neutral. Has to break below 9130 on Bitstamp to turn negative back to 9011 . But so far price action is positive and it should break higher again later so long as the 9175 line and the 9130 level at lowest continues to hold from here. The next resistance lies at 9482 and then 9887 and the uppermost parallel. As things currently stand we have a decent chance of retesting it later this weekend. 22:32gmt 17:32est Last Update Target achieved -should come back some - if still long raise stop again to 9148
BITSTAMP:BTCUSDLong
by sumastardon
BTCUSD Bitcoin Next Trade Points from HereBTCUSD Bitcoin Bitfinex Update: Next Trade Points from Here Finally a break - so quick it's over - justa quick 100 points. But these trades can happen so quickly because other traders have trigger levels and limits pre-set in the market - often on both sides - They hit and trigger or they don't. This has to break 7810-7800 range to add or open a new short back to 7596 10:22 gmt 05:22est Bitcoin is effectively back to square 1, at the same price point it was printing 24 hours ago and facing the same problems again too. A groundhog day so far. The rally has helped to shift Bitcoin into neutral again from outright bearish and gives Bitcoin bulls a fighting chance from here but whilst unable to regain and hold above the 8180 line on Bitfinex the bears in this fight are not going to raise a white flag any time soon. Bitcoin has to push above 8180 and sustain it to break the bear hold and to trigger the next long shot up to 8400-8456 range with stops at least 30 lower. But in very near term until 8110 can be taken back and held by the bulls Bitcoin is still vulnerable to selling pressure with the 8070 support line now quite important to the near term from here. It has to break below here to end this near term neutality and to force it back lower still to 7960-7955. Worth a short if triggered. But there is no aggressive short on offer right now. It has to break below 7800 for that to happen in which case we can short again back to 7600-7595 range. So overall neutral to mildly bearish right now - and back to waiting for the next trade to trigger from here. For now we need to be patient, to wait and not get tired by waiting. Yet again.
BITFINEX:BTCUSD
by sumastardon
1
BTCUSD Next Trade Points from HereBitcoin Overnight Bitcoin is still stuck within a larger continuation pattern it's been cranking out since the lows 24 hours ago. There's a useful dynamic underpinning the rally so far which has just been tested and held. Day traders are using it as the final stop/reversal short for longs by look of it. If long here it's not a bad idea to adopt the same policy. Whilst it holds can stay long, looking for 6901 and the uppermost rising parallel - needs to push above here to reach a maximum upside target at 7150-7160 where it should fall away again. And if not, this decline may grind on to 23:30gmt/18:30 est or longer still (the last continuation pattern lasted four and a half hours). But so long as it holds the parallels as it does it Bitcoin can be bought on exit of the upper parallel with stops below it. Any break below the rising dynamic will tip Bitcoin into negative territory and increases the chance that the lower rising parallel will not only be retested but eventually will break to the downside. And if it does the fall should be worth shorting or adding to from there with stops above the same line once broken below, targeting 6520-6452 range. Final/last-gasp support here lies at 6452. If that level gives way by over 10 points at any stage it's a short once more with stops above 6520. The next support below here/downside target is 5879, then 5130.
COINBASE:BTCUSDLong
by sumastardon
3
Bitcoin: BTCUSD Saturday Update and Next Trade Points Bitcoin Saturday Update and Next Trade Points Bitcoin went into the weekend looking like it was just a matter time before it broke lower still. All that consolidation below structure to the left of price was saying that no-one wanted Bitcoin above 6666. By 22:00 gmt this level really had taken on major significance. The number of the beast or no, it was also now the dividing line between Bitcoin staying negative and flipping back to positive. Then at around 01:50gmt there was a massive whale attack. And although primed for just such an event this weekend, we've never seen an attack out of far East like this for months now. It was big volume - a serious attack. The trigger for the next long was a break above 6670. Since then Bitcoin has surged up to test the junction of the fixed and dynamic resistance lines at 6909 with an intra day high at 6917 on Bitfinex. Now it needs to consolidate some more and is doing so by unwinding in a 100 point range with support underneath provided by the 6817 line here. Can either close out here around 6868 for 218 points profit overnight or stay with it with a stop under 6800 for 120 or so profit if struck. Am doing former as it's the weekend, looking to re-enter long only once 6909-6950 range is broken above, looking for a rough 400 point rally to 7266 minimum and more likely to 7431. On downside support at 6818-6800 line must continue to hold up on retests today for Bitcoin to remain positive from here. A break below 6800 will tip Bitcoin back into bear territory and trigger the next near term short from here if we see it, back to 6666 - where it should bounce again. We are still stuck in the range with the weekend ahead. Unless 6950 can be broken above that looks likely to remain the case for a while longer this weekend - but with some decent near term trading opportunities ahead of us all the same.
BITFINEX:BTCUSDLong
by sumastardon
11
BTC encapsulation in a Fib Circle for now. Predictions on it.Well, as you can see on the graph, the price is pretty much blocked in the area of the Fib Circle shown. Until it breaks one of the circle areas, it might just bounce around the current Circle Area. Also, resistance and support level agree with this Fib Circle :) No Elliot Waves that I can clearly see on this one, so I'm not gonna add them. My personal order(s) for the foreseeable future. 1) If it keeps this trend Buy: ~8860 $ Stop loss ~8795 $ Profit: ~9120 $ 2) If it breaks down the trend (<8800) Buy 8550$ S/L 8450$ Profit 8800$ 3) If it breaks up > 9250 $ Buy 9250$ S/L 9189$ Profit 9400$ Again, those are my personal orders, and I might adjust them in the meantime, but they give a sense of what I'm expecting to happen. Whelp
BITFINEX:BTCUSDLong
by reynar
2
ETHUSD: Next Trade Points from Here ETHEREUM/DOLLAR: ETHUSD Next Trade Points from Here Three waves down and a bear flag/pennant sitting above a potential bull flag at the bottom of the run. The low was off the longer term dynamic support line too. Eth is trying to turn here but is depending on Bitcoin to help it break free of the downtrend from here. As things stand it's a speculative buy on dips back to 516 with a stop below 510 and becomes a stronger buy for swing traders only once 562 has been re- taken and held by the bulls in this argument. It should then attract more buyers and rally to 630-635. A good near term trade if we see it materialise, and probably needing Bitcoin to break above 8600 and hold for it to happen. Returning to the downside from here, ETH must continue to hold at 516 on dips - any failure to do so by more than 5 points will tip it back into bear hands again and force it lower to 481 at least, and more likely to revisit lows at 452-450 again where it will stand a good chance of double bottoming before the next rally attempt resumes.
BITFINEX:ETHUSD
by sumastardon
1
Bitcoin: BTCUSD - Consolidating recent gains: Next Trade Point Bitcoin BTCUSD Tuesday Trade Points Price action since Sunday's break out has been listless and lacking any real direction. However there is still bull evidence mounting - firstly it has not broken down completely after losing the supporting dynamic yesterday, but has instead formed a continuation pattern on top of yesterday's flag, using the same lower parallel as support. That shows underlying bullish intent is still present so far. But for that to be confirmed we need to see it break above the upper parallel - if we see it we can follow long again with stops under the same parallel by 50 points or so once broken. Until that happens and it remains within the pattern there is no clear trade right now. On downside, should the lower parallel of the continuation pattern fail at any point today Bitcoin should start to fall away further and becomes a short once more with stops 50 or so above the central (of 3) parallel which lies at 8300 right now. At some point fairly soon we should get a signal worth trading again. Until then Bitcoin belongs to the bots and day traders trading between the parallels- and even they are finding it difficult now. Patience. The next trade is getting closer by the hour - we often see an upward burst at 12:30-15:00 as US wakes up but we really need to see that upper parallel broken for confirmation that Bitcoin is still positive and to follow long again from here.
BITSTAMP:BTCUSD
by sumastardon
6
Bitcoin Futures Chart Update: BTC1! Next Trade PointsBitcoin Futures BTC1! CME Near Date The futures chart is showing some of the clearest trend lines at moment so is worth a look. Price action yesterday has not helped the bull cause. The chart shows Bitcoin is still in a very precarious state. Yesterday's fencing battle with thrusts upwards and spikes down was by turns dreary and stultifying and mixed with moments of excitement that untlimately led nowhere slowly. Although there is minor support at 8570 here it is not likely to hold up for long. No evidence of human activity now, just bots battling in no-man's land. After yesterday's small-scale roller- coaster ride of flips and false breaks not even day traders are showing much interest now. But the Bots have won a hollow victory in near term. They've effectively scared the market to a near stand-still. Once bitten, twice shy. Another test of 8286 line looks likely here soon. Although it should try to bounce from here the overall pattern is suggesting that this level will break eventually and trigger a short to 7619 initially. In turn a break below here is likely to lead to a retest of the lows at 5950. On the upside any rally from here is likely to get rejected by the dynamic now forming from the last rally high. Cannot think about a long from here unless 9300 is retaken and held by the bulls. That would turn Bitcoin back to positive again and can be followed if we see it happen. It looks unlikely now but we still need to be prepared for both eventualities just in case. But until we get a clear signal as above the best course of action right now is to keep powder dry and try not to get sucked into false breaks in the meantime.
CME:BTC1!
by sumastardon
BTCUSD Bitcoin: Double Bottom Overnight - Thursday Buy PointsBitcoin BTCUSD Near Term Neutral but buy the Break higher when it comes... Overnight Bitcoin did eventually break down out of the continuation pattern it was tracking and began to fall away again. It came right back down to retest the lows again but it held up, creating another intermediate double bottom, showing loss of downside momentum and that it was safe to buy again with stops under the lows. Bad timing for this to happen overnight as it was a fine signal to trade off. Such is the life of a Bitcoin hunter. Sometimes. If you were around for the double bottom and were able to reverse or just get long again from there you did very very well. So day traders have had the best of it for the last 24 hours or so. Bitcoin is now probing resistance from the upper parallel of the new continuation pattern it has started to form overnight as well as fixed resistance at 10108 on Bitfinex. It's therefore vulverable right now and day traders are closing out their longs at the obvious spot, looking to buy back from lower again or if that trick fails, they will buy again once 10120 has been broken above for move to 10448 and then 10680. We can follow that break higher when it comes. Until then we watch and wait. No point in chasing this from here yet. But technically it has made a double bottom now. All it needs to do next is break above 10120 to confirm the double bottom and also a higher high. Until it does Bitcoin is effectively range trading. Useful for day traders but not for the rest. We will follow long when we get the signal with stops about 100 lower or consider buying from the lower parallel if retested soon with stops below the parallel.
BITFINEX:BTCUSD
by sumastardon
8
Bitcoin BTCUSD Next Buy Points for MondayBitcoin Monday Update Next Buy Points on Monday Those that ran a trailing stop 50 or so points under the little dynamic supporting the lows of the day yesterday will have been stopped out around 11500 for 400 or so points profit. 4% returns on a slow Sunday is not bad but it was a hard grind battling against the bots. Bitcoin has encountered upside problems all night long, unable to push above the rising parallel which it lost yesterday morning and has struggled beneath it ever since. It topped out at around 04 est /23est and has since started to form yet another small continuation pattern below the same old parallel. Once again Bitcoin is trying to form yet another a bull flag now. To stay good from here it has to hold up off the lower little parallel of the flag formation and start to rally from here again - this is a speccy buy off the lower parallel with stops under the same parallel for a small loss if wrong. Otherwise we wait for the upper parallel to be broken on the upside to follow long again or add. We know this process can be mercifully quick if the flag is to stay good from here - and if not and no buyers appear soon to take the price back up it can drag on for hours more yet and start forming a longer-lasting continuation pattern as yesterday. And as yesterday, and most days recently, we need to stay patient, but ready to act when the signal we are waiting for is given to do so. Downside is being constrained by the lower parallel of the embryonic flag formation - Bitcoin would have to break below this line to turn negative again from here - so cannot be shorted unless we see this parallel fail from here.
COINBASE:BTCUSDLong
by sumastardon
24
NEOUSD: Still Positive - Next Buy Point ApproachingNEOUSD Still Positive - Next Buy Point Approaching The minimum upside target created by the RHS is 173 but it's taking its time to get there. Looks to be in process of completing another continuation pattern before firing higher again soon. Once it passes 128 and holds there it should advance to 148/150 where the upper dynamic will most likely reject it again on the next touch. But WD Gann tells us that 4 touches should be the maximum and on the 5th attempt it should push through the dynamic and complete to the target at 169-173 range. Can therefore split trade into two parts, from 128 to 148-150 and then from 151 to to 169-173 - or can buy and hold depending on trading profile. Support lies at 121.5 and whilst above here Neo is positive. Stops for longs just under 120.
BITFINEX:NEOUSDLong
by sumastardon
1
Bitcoin BTCUSD Still Positive Today: Next Buy PointsBitcoin BTCUSD Saturday Update/Buy Points After another 15 hour period of dreary consolidation lasting through the European session and right through the US session to the close Bitcoin finally bottomed right on the low point forecast for the day before the rally we spent all day waiting for finally kicked in. Patience was finally rewarded as Bitcoin began to push higher again into the far East session, rallying to an overnight high at 11419 before the customary 06/01est sell off. Later today it should push higher still to test 11790. In the meantime though, it can spend quite some time moving sideways once more, using the 11192 line here on Bitfinex as support as it does so - and can come back to the parallel underneath it at lowest to stay good from here today for the rally to 11790. This process may be mercifully short - but it could also last several hours as it did yesterday. We need to be prepared for both. Look to enter long if not already from 11192 -11050 range (with stops under 11000) or can add/enter long again once 11430 has been broken above for rally to 11790 where we will look to close out and maybe reverse short if touched later on - depending on price action when we reach the upside target. More as this move develops. Whilst Bitcoin remains within the parallels guiding this rally it remains overall positive.
BITFINEX:BTCUSDLong
by sumastardon
11
BTC/USD - I warned you about the bull trap - what's next?I wrote about this being a bull trap from $10k+ and drew the downwards trendline you see on the chart. Look's like I was dead on for now! (Check out that idea in the link to related ideas). But what comes next? I still think BTC could go back to $4.000-5.000, yes! I think the entire market is overinflated at this stage and that a return to mean is for the better - longterm. I am very bullish long term, don't get me wrong. But for now, we will go down. However, we have a few levels to watch before we can confirm a bigger downtrend. Looks like we are sitting right on the orange trendline which goes back to previous levels from August/September. That will be broken though. A very interesting level to look at: $8900 - $9000 level! WHY? Because this represents: 1) the .50 fib retracement which BTC likes to follow 2) A possible (major) inverse head & shoulders forming - left shoulder from $13k high to $10k and back to $12k, head being from $12k to the low at 6k to latest high of $11.8k and a new shoulder forming from that high to the $9k level - with a possible finish and break of neckline at a new run to $12k. So WATCH the $9k level! If it bounces from here and goes back up towards $12k, we could see a major break to the upside with a potential target of $18k if we break the neckline of the inverted H&S! If the $9k level breaks to the downside, I am positive we are going back $6k or lower. Disclaimer: I am currently holding fiat and waiting for entry. This is all my opinion, do your own DD, this is not financial advice. Let's see what happens, happy trading!
BITFINEX:BTCUSD
by thombooo
Bitcoin: BTCUSD Breaking Higher Again - follow with stops Bitcoin Coinbase Chart Breaking Higher Again 10:42gmt/05:42est It's popped the upper parallel and is now in process of trickling back down the same parallel - so now we need to see a higher low set on this decline - maybe at 10333-10300 and if not off the lower dynamic support line...that is the signal we need to get long again from here. So far this looks OK though and is trying to turn back up again. On downside, if wrong, Bitcoin has to break below 10150 on Coinbase to trigger any further shorts with stops 100 higher if triggered at any point from here Latest Update 11:07gmt/06:07est Bitcoin Coinbase Chart This is a natural spot for dayt traders who bought the lows to close out off the first test of the upper dynamic from the underside at 10550...this next decline has to make a higher low now to show that the uptrend remains in tact. So far the selling is light and a break above the upper dynamic should attract more buyers as day traders get long again once broken. Follow that break higher if not long already with stops below 10500
COINBASE:BTCUSDLong
by sumastardon
1
Bitcoin: BTCUSD Still Positive: Next Buy Points TodayLatest Update 11:00est: Bitcoin is still positive and a near term buy on retests of the smaller dynamic underpinning the day's rally towards the blue support line at 9960-9940 with stops below 9900. Also raising the stop here to just under 9900 on current longs on Bitfinex to trap in 100 + points if it gets struck (day trading). The other choice for swing traders is to leave the stop just under 9800 for break even from here. The overall trend will remain positive whilst Bitcoin remains above the larger rising dynamic it bounced from earlier and that we used for this original long entry. Last Tv Update, yesterday: If it loses the main dynamic it will unravel a little but looks unlikely to break below 9496-9450 levels if it does - there should be a lot more upside from here though. How you prefer to trade it up to you. But for the forseeable future this is a buy dips market. That only changes if the lower larger dynamic gives way at any point from here. 1st Update today 05:05 est Some swing traders will still be running the long and using the bigger dynamic as a final exit (as per Tv updates). If so stay with it. If not and looking for the next long from here, we have a chance of a trade from here at 9740-9700 if using a stop below the dynamic which is at 9700 now for smallish loss if wrong here - otherwise we need to see the upper parallel broken on the next rally to follow long again, with stops below the dynamic, under 9700. So long as Bitcoin holds up off the largest upper rising dynamic that it is closest to now (at 9700 now) the trend will remain positive and swing traders can stay long. And if this line gets broken at any point today the 9496-9450 range must hold up to all challenges from here to stay bullish overall. Update 09:31est today Can raise the stop on this long to just under 9800 for small win/break even from here. Some traders are happy with 200 points per day so that over 5 days they make 1000 or so. All depends on profile - some are big game hunters and swing traders and some are shorter term scalpers. There is no right way, just the way that suits your temperament and time available best - it takes every type to make a market...
BITFINEX:BTCUSDLong
by sumastardon
Bitcoin BTCUSD BReaking Out Again - Next Buy PointsBitcoin BTCUSD Next But Points for Sunday We got another attempted breakout around 17:00 est which was enough to trigger a long shot as Bitcoin moved above the central parallel (it was the upper line at this point in time) at around the 8380 level on Bitstamp. It then moved up to the test the first line of resistance at 8545 and a just above before it once again failed. Not great. But stops should have been moved up to at least break even and really should have been moved up to just below 8500 here to protect the position. Now we have a another break out just underway. Buy again with stops under the parallel or can wait for a retest of the parallel it has just left - need to see some volume pick up and then once it breaks above 8170 it should attract more buyers still.
BITSTAMP:BTCUSDLong
by sumastardon
2