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Bitcoin: BTCUSD Looking Up Again...Next Buy-Points Today Bitcoin: BTCUSD Looking Up - Next Buy Points Today Having spent the overnight session in far East with no buyers or real interest Bitcoin drifted as a consequence. But the good news was it didn't crash ...that is a massive positive sign that whilst it was getting tired overnight, it wasn't getting rejected and sold off - just neglected more than rejected. Good for the bulls here. Overnight it has also completed a 4 sections down move, similar to previous down-moves in this run though not so well defined as the last couple, but still similar. And now in London it has been bought once more. Usual 'Tokyo Drift' overnight then met with some serious buying out of Europe at 8.30 utc. This break-out, although consolidating now, is a good one by the looks of it. To break out from here and try to leave all the structure to its left is the first really bold move Bitcoin has made for a couple of days - all price action up to this point has been consolidating in nature - it's done well and the bulls are beginning to win this 800 point argument that's been raging for these last 2 days. But right now it's showing spikes on the 15 minute chart on Bitstamp and is liklely to come off some more - the pattern we were looking for has emerged overnight and been broken decisively to updside by this morning's price action - if day trading you will probably have already bought the break out and now will likely have sold (spikes showing and it's hit clear resistance line on Bitstamp too) If so, good trading! And if not, it's OK too, it's been and gone and there will be another one coming soon - and so we look to buy the dips again
COINBASE:BTCUSDLong
by sumastardon
1
Bitcoin (BTC) stall at critical point - Whats next for Big B?This analysis is meant for my own educational purposes and for making discussion around the current situation. I am by no means a professional trader, and I advice against making trades based on this analysis. Bitcoin made a pretty strong bounce off from 6000 USD with an all time high volume on the daily chart to back it up. There seems to be a strong bullish sentiment forming based upon the clear bullish divergence on the MACD (Red trend line). However the coin has stalled at the very important 50 day EMA (pink) which has proven to act as a major resistance on several occasions. Trading volume has been declining even after binance reopened and there is indecision in the market. So where do we go from here? It is hard to answer at the time, as it is just as likely to go both ways. If bitcoin breaks through the 50 day EMA and we see some rising trading volume, we will likely see it surging to the next major resistance which would be the 100 day EMA (orange) and the point of the most recent top (around 9500 USD). However, if the bulls don't start initiating and the volume keeps declining, we could see a symmetrical fall downwards to test the support at 6000 USD. If this is the case, keep an eye on the trading volume whenever a new bottom seems to be forming. A double bottom at 6000 USD would be a strong sign of a trend reversal and if backed up by volume, we could see a massive bounce towards the 100 day EMA . I do not recommend any trades until we see stronger signals of which direction we are heading. What do you think of the current situation? Have the bulls already found the bottom or are the bears still in control?
BITFINEX:BTCUSD
by kevinmolid
S&P 500 Index SPX Next Buy and Sell Points TodayS&P 500 Index SPX Next Buy and Sell Points Today A poor call on this index yesterday led to the loss of some 12 -15 points as the buy point at 2627 was broken and the stop at 2614 triggered. It wiped out the 6 point win earlier but at least the 60 point win on the short on Moday and the next 60 points or so from the long on Tuesday means the point tally for the week is still positive, if a little depleted. Yesterday's price action has driven the S&P to a new closing low, taking it back to fill the little gap that shows on this chart at 2584. A 10% move from the top = 2585, the low yesterday was 2580. So long as this low holds out today on any retest this corrrection remains a standard deviation - but the low at 2580 must stick now for the medium term trend to stay positive from here - any fall below 2580 by more than 4 points will tip this index back into bear territory and force it lower to 2543 (first short) and then if this level breaks to 2488 (second short). On the upside, whilst stuck within the range and below 2619 it's not giving a strong enough signal to trigger a trade...it has to break above here and hold there to trigger a rally to 2668 which should be worth following with stops just under 2600. Alternatively can be bought at 2607 current levels with stops below 2600 and added to once 2619 is broken above. This is higher risk but also higher reward. Others will prefer to wait for next signal to trigger before entering positions.
SP:SPX
by sumastardon
1
S&P 500 Index: SPX Next Buy and Sell Points TodayS&P 500 Index Update Next buy and Sell Points Yesterday the S&P fell 5 points shy of the next target, busting out the next long as support and stops just under the 2715 break line were hit and so turning a 12 point profit into a 2 or 3 point loss. Not so good. It looks as if it will fall further now to retest 2669 and maybe spike as low as 2661 level but should bounce from there at lowest if it is to show stabilty today. if wrong and this 2661 level fails to hold up later it will likely fall away further to 2626-2600 range where it becomes a buy again with stops below 2590. So far this decline remains a standard correction or deviation of 10% - 10% off the top = 2584, the low was 2592 - and it can at worst fall 11% to 2555 but no lower if this is to remain a 'standard' correction. Should this level fail at any point this week it will tip this index into serious bear territory - the decline will then likely extend to 2584, then to 2545 and then to 2488 where would look to buy once more if this kind of price action unfolds from here. Don't think it will so far, but we still need a plan B here, just in case.
SP:SPX
by sumastardon
Bitcoin: BTCUSD Next Buy and Sell Points todayBitcoin BTCUSD Update Next Buy and Sell Points We left this overnight waiting for the 4th break lower to hopefully develop a double bottom to show loss of downside momentum and looking for the rally to recommence from there. Interestingly - for some at least - the low was actually also the tiniest of gaps which was created (green arrow) on exit of the last smaller continuation pattern from the night before last - so small...but it got filled precisiely. So the tiniest of gaps was not 'forgotten' - Bitcoin came back and painstakingly filled that gap, and then with the crack in the wall filled, it moved on up again. Where this kind of behaviour is quite normal in a major market index like the Dow (which closes each day to create gaps) it is highly unusual in Bitcoin (it never closes, so why should there ever be a gap?) But the gap is there, small but clearly. And Bitcoin just had to fill it. Since then it has rallied 800 points back to test 8332 resistance line and is once more consolidating. Price action is quite subdued though - it did get bought in London again but not aggressively. So now it's coming back towards the dynamic in a three or four-wave move most likely which can be bought again if not long again already on exit of the upper small parallel for rally back to 8332-8350 and then, once passed, to 8550-8650 range. Bitcoin has to break above 8650 for the next part of the rally to take shape and to follow for higher prices still ahead. On the downside the dynamic running under the lows overnight must hold up to all challenges from here. Any failure will be the first big hint today that upward momentum is waning here- not much buying intent so far...so this is not not particularly strong yet, but also the decline overnight was not a collapse as it could have been - so it's pretty neutral right now but still with an upward bias. However should the rising dynamic under price fail today at any point look for the same type of pattern emerging as yesterday when it lost the parallel then...a rally back to underside of the same line and then, eventually, failure. If we see this type of price action develop it can be shorted with stops above the line. But until then we can look to buy this next next dip to the dynamic with stops under the line.
COINBASE:BTCUSD
by sumastardon
7
ETHEREUM: ETHUSD Next Buy and Sell Points TodayETHEREUM ETHUSD Update So maybe you have 5% more ETH for your money than yesterday...and if not ETH is back at the same levels again, but this time challenging resistance from the underside of the dynamic which until yesterday had been good support...so we've seen this pattern countless times before...ETH is vulnerable again here - must find buyers now to push above 848 and hold there for further near term strength today to 892 and then 990.
BITFINEX:ETHUSD
by sumastardon
S&P 500 Index SPX Next Buy Points From HereS&P 500 Index - Update Next Buy Points A fantastic clean break gave an entry at 2635 and showing about a 60 point profit so far to add to the massive short on this index right down to the lows on Monday. So far this has been the most profitable week for shorts and then longs on the major indexes for over 2 years. We've had the easy part, now it gets a little more difficult again... It's now probing resistance at 2700 and can come back to 2668 before rallying again. So can close down the long or alternatively place a stop close under it to trap in profits if it does come off more from here first before the next rally kicks in. On the upside there is resistance potential stretching from 2700 up to 2715 - it has to penetrate and hold 2715 to trigger the next long which should take it to 2732 to begin with and then after consolidating to 2762 and close to the upper rising parallel where will look to take profits again if touched. On downside, if it comes off from here back to 2669-2660 line will look to buy here with stops below 2260. Any break below 2260 will signal a retest of the lows - and if we see this will look to buy again from there. Otherwise can run this long but with stop quite tight under price from here to trap in profit if it does fall away to 2669 first.
SP:SPXLong
by sumastardon
Nasdaq 100: NAS100 Still Positive From Here - Next Buy PointsNasdaq 100 Index Update The minimum upside target at 6694 was met and the next, at '6787 at best before it falls away again' fell 12 points short with the high of the day at 6675. Since then Nasdaq has fallen away in a little continuation pattern that signals further upside in store. It's just exiting the pattern and can be bought again with stops below 6560. Or can wait for stronger confirmation once 6614 and the dynamic above it has been broken above and held on retest. Should then rally to 6673-6694 range and then once this this range is passed - after a period of consolidation here - should rally to 6787-6800 and then back to the highs. Nasdaq only turns negative again if the lower parallel supporting price gives way at any point form here.
FX:NAS100Long
by sumastardon
Nasdaq 100 Index: NAS100 Next Buy and Sell PointsNadaq 100 Index: NAS100 Next Buy and Sell Points The last 3 declines on Nasadq were 339, 357 and 345 points. This one is now 354 points, so far - par for the course. Nasdaq is now flipping within the boundaries of the two fixed lines of support at 6696 (spiking below here by 20 points to 6676) and resistance at 6786 (spiking above here by 19 points to 6807). It's therefore near term neutral whilst within this range. It has to fall below 6670 to trigger a short back to 6614. This level must hold up throughout this week. Any failure here will trigger a second short back to 6371 minimum and more likely to the 6231-6192 range. On the upside a move and hold above 6810 is needed to trigger a long to 6876-6890 where will look to close out if touched and then maybe reverse short with stops above 6910. So far this is a short, fast decline which matches the size of the last 3 - but the shape of this one doesn't suggest continuation as the others did. It's too sharp, suggesting it may well have further downside to run. Breaking lower to 6614 will become the biggest decline for 2 years - and signal that once broken the Nasdaq will test 6371 before it becomes a buy again from here.
FX:NAS100
by sumastardon
Bitcoin BTCUSD On The Brink Next Buy and Sell Points TodayBitcoin BTCUSD Update Next Buy and Sell Points The overall technical picture has not changed for the better as yet. Bitcoin is now on the brink, staring at a large 2000 point abyss. Even at these lower levels where it found willing buyers late last week, today it finds none. Dead cat bounce. It's still a speculative buy at 7700 and close but only with a tight stop just under 7690 for small loss if wrong and ready to reverse this position to short if 7680 gives way looking for 7430 to begin with. Then once this level gives way it becomes an aggressive short back to 5591 whhere it should get a good bounce again. The other potential long entry point will come if 7700 continues to hold out - then need to see it take back 7945 line and hold up there and then break above 7820 annd hold again at 7945 on that next retest...then can look to enter longs with stops below 7900.
BITSTAMP:BTCUSDLong
by sumastardon
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 Trying to build base: Next buy and sell pointsBitcoin BTCUSD Next Buy and Sell Points The weekend rally ran out of impetus by Sunday night with no impetus still from far East. Since then Bitcoin has zig-zagged back down in a continuation pattern, finding support from just above fixed and dynamic support junction at 10772 on Bitstamp chart and bouncing back up to test the parallel above it before recoiling once more. Whilst this price action is therefore still providing a great space for day traders to trade within the parallels, it's not much help to swing traders as yet. But the near term double bottom and the dynamic support below price at 10772 has turned Bitcoin neutral in the very near term and given succour to the bulls for now, creating the little rally we've just seen. The bears are fighting back from 10987-11000 range and whilst they can hold price under here they remain in control still. Aggressive bears continue to sell from tests of the upper parallel and aggressive bulls buy from tests of support just above 10772, creating this stale-mate within this range for all but day traders right now. Next Buy and Sell set-ups for Swing/larger Trades: Bull case: Bitcoin is trying to base out here and 10772 is best place to do it from. If so it will bounce from 10875 first support and from 10772 at lowest now and then break above 10987-11000 and hold on any retest once broken above...that price action will flip Bitcoin back to positive and we can look to buy with stops below 10950/the parallel once broken. Bear Case: (beginning to lose it, especially if 10875 holds now) Bitcoin has to break below 10772 by 20 points or more to trigger a short back to 10547 initially, then to 10262 and then to 9912 in all likelhood.
BITSTAMP:BTCUSD
by sumastardon
3
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
ETH looking extremely cyclic and going to 1800After the last couple of bearish days I lost confidence in my previous ETHEUR analysis. Especially because guys like "sebastian.seliga .7" said we might be in ABC correction. But now I am even more convinced that I'm right. ETHEUR hast been extremely cyclic and has already performed at least 2 of these cycles and right now we are in the 3rd. Every cycle starts with the crash of the last all time high. (ORANGE) There we can see a fist drop followed by an even deeper one to the area of the support from the last cycle. Then we have a quick recovery (BLUE) followed by a smaller downward wave (YELLOW) wich is not going higher than the last (BLUE) recovery. After that the chart consolidates and volatility should go down.(GREEN) After the consolidation we can see a new rally to a new all time high (CYAN). For the new all time high there are different possible ways for calculation (WHITE): 1. increase since last consolidation (~640) to last all time high (~1200) consolidation now (~950) to new all time high --> 1780 2. crash (~400) to last all time high (~1200) crash (~600) to new all time high --> 1800 So I personally believe we might see something around 1800 for a new all time high in a couple of days. Do you think the same? ---- all trades on your own risk
by Skillzzz
Bitcoin BTCUSD Next BUY PointBitcoin Bitstamp Feed Still making a pretty consolidation pattern so far - we can only really buy again now once the upper parallel has been broken on upside - but day traders are risking buying these lows and helping to prop it up here with stops just below for small loss if they are wrong...if they are it triggers a reverse short for them back to 10879 with stops above the break line by 50 points or so points. Otherwise we wait for the break higher, and successful retest, as above comments. So far today we have traded about 500 points of longs if you follow the 'other' feed, (top of page for details) - but am hoping to keep this page regularly updated from now on too. Stay lucky.
BITSTAMP:BTCUSDLong
by sumastardon
NXT 'Calling Tops' Chart 14 January 2018Alright, first topic to discuss is 'calling tops' topic. In my opinion there's three ways to call tops: - Fibonacci levels (you could combine these with Elliott Waves if you want to). - Top of the parabolic trend - Top of the channel On the bottom two I'll give an example another time, but today I'll focus on the first one, fibonacci levels. (apart from the earlier higher levels back in 2015, I'm giving examples according to the yellow, orange and red box). So, we've seen a nice move up in the summer of 2016. After that, we've seen a nice move up back in the same period in 2017 and a last one is the red box, the last upmove in the last few months. One of them is according to the airdrop of IGNIS, one of them is according to the airdrop of ARDR. As you see, the top of the orange box is exactly the 1.618 level from the earlier top back in 2016. The same we'll see in the red box when you draw the fibonacci levels with 1 as top on the top of the orange box. Why is that? In Fibonacci is the 0.618 level (or 0.382 flipped around) the major level. 1.618 is called 'The Golden Ratio' and is one of the hardest resistances to break through. Most of the time you'll see a bounce down (sometimes a little spike up, but the candle doesn't close higher than this level), so jumping in on the bottom, placing a sell order just below this level and most definitely you'll make great profits. What do we see more? - Buy the rumor, sell the news. - Don't jump on hyped coins and don't buy green candles. - Waves/cycles, everything goes in waves. Then about $NXT for the future. Will it stop pumping? I don't think so, we'll see accumulation for the coming months before we'll make another move. 2018 will be a volatile year. Thanks, see you tomorrow!
by CryptoMichNL
Bitcoin BTCUSD Bitcoin and Klondike Compared/Next Buy PointsBitcoin Weekend Update - Bitcoin and Klondike Compared - Next Buy Points After the selling climax reached post S Korean news Bitcoin, if it was to continue acting like text-book version of how a coin should move, was expected to rally back to the very start point of the rout and then consolidate. Overnight Bitcoin played by the book. Actually the high on Bitstamp was 14468, some 29 points under the actual point of rout, but not bad. This beast a proper thorough-bred. Earlier yesterday either you got stopped out at 13700 for 1000 points profit, or if using the 'other' service which cannot be mentioned by name under threat of yet another ban (see top left of sumastardon page, under big green S for more details of that if a Bitcoin aficionado) will have managed to exit very close to the top of the run yesterday at just under 14150 for some 1440 points profit, or 10% of Bitcoin in 12 hours flat. We can make some serious returns on Bitcoin without ever having to 'own' it for very long...too risky! Trading this monster is in reality way LESS risky than owning it. Since that trade we have gone long around 13600 and lost 60 points and gone long again from 13417-13370 range with the subsequent low being struck at 13391, right in the centre of the lowest downside target, and has since rallied overnight to retest the S Korea pre-news level to within those few points at 14437. If you closed out close to those levels that was fine trading and another 1020 points won...so up to 2400 points 'mined' in just 44 hours or so of frantically...twiddling our thumbs and hitting a button about 6 times. When you stop to compare the hardships we have to endure to mine a few points/dollars from the rich seam in the sky to those faced by the men who set out to find their dreams in, say, the Klondike gold rush it makes the head spin. The risks they took and the broken dreams they took home with them, if they survived the ordeal, bear no comparison. They were looking for something real (gold) and for the most part couldn't find it. We look for something 'unreal' and seem to find it everywhere. We don't have to cross oceans and climb 'golden staircases' in deepest winter risking our very lives to find it like some of our ancestors did. Could this have been you in another age? We can sit at home and watch Bitcoin and chill. Way more exciting than Netflix ever was or could be, no? But there's a deep irony there too. We are so damn lucky. Do we realise it? Well we really are making it 'real' in some respects. We are turning something that might still be unreal into something tangible and very real. Bitcoin = points = dollars. E=MC2 for miners. And so long as we hold the dollars who cares if it's real or not? That is not our problem. Our only 'problem' is spotting patterns in the seam and trading/mining them. That is all we should be concerned with, pretty much - as well handling tax returns - which should be quite large unless you're planning ahead... But back to the now, now. Bitcoin is consolidating overnight gains and now has to push on through that high from overnight and break above 14460 to really power ahead again from here, triggering the next long for 500 points to 14960 - otherwise we wait for lower values. First support is at 14081 but gets stronger at 13965-13900 range ...look to buy the dips still, Bitcoin is beginning to get back on its feet
BITSTAMP:BTCUSDLong
by sumastardon
2
Bitcoin BTCUSD Update and next buy pointsBitcoin Update The long from the retest of the lows at 12810 on Bitstamp chart has gone quite well overnight as far Eastern buying helped to drive price back up towards the start of the rout that began 24 hours earlier out of S Korea. We had a likely upside limit to his trade in the near term at yesterday's high point around 14200 for a rough 1300 point win but it's stuggling here somewhat under the weight of a new set of parallels that have emerged overnight...likely to unwind some more in near term - day traders are cashing out at these levels after a 1300 point win from the lows and causing Bitcoin to flip around at the highs... Bitcoin is still not home-free from here but it's close to the border line now. We have to see Bitcoin break above the last high at 14215 to show that we have a real change in trend back to positive from this point - this is the price action we have to see later today for Bitcoin to stay good for a retest of the highs..until we see this happen we have no real proof that the trend has changed decisively - this could be another counter rally in a downtrend so far - beating back and regaining 14215 and holding up on the retest would give us that proof we need that Bitcoin is good for a retest of the highs from here. In near term this pattern is one of consolidation - if not day trading and wishing to run this long for the next few days (hopefully) raise stops to a little under 13780 on Bitstamp for just under 1000 points profit from the low...this still looks OK but that green streak below us is uncontested so far...can come all the way back to the start again potentially of the green streak and to the lower parallel before rallying again if 13700 gives way later...we need to see Bitcoin beat the last rally high yesterday to immediate left of price to show that Bitcoin is definitely changing trend from here - that will attract more buyers and take price up to 14500 -14656 range which is the area from which the sell off in S Korea began and the next potential area to look for a consolidation to occur from. And on downside, if we do get a test of the lower parallel later on that should be another good opportunity to get long again with stops 50 to 100 below the same line.
BITSTAMP:BTCUSDLong
by sumastardon
3
ZCLBTC is setting up for another waveZCLBTC has had 2 bull runs and is setting up for its next wave. We have to account for 2 possibilities: 1. ZCL breaks out between 1-5 hours from now. 2. ZCL continues to correct to the trending support and makes a decision to either drop to lower support levels or it bounces and starts the next bullrun. The reason I see a possibility for a breakout in the next few hours is that the TD count will reach a TD9 on the next candle, indicating a possible buy setup for people using this indicator. We should be looking at the lower time frames (30 minute charts) for price action candles that confirm a move up. We also have the RSI retesting the median line. If we don't see a breakout, we can expect the TD count to reach a perfected buy setup (TD13) right at the support line, giving us an extra boost. After a breakout we should watch the confluence lines (blue dotted lines) for any resistance. The breakout might pause or fail here. Another thing that happens often is a retest of the broken resistance. So keep your eyes peeled on those.
Z
by bjhriemersma
1