Get started

Playing

BCHUSD What a BlastBCHUSD A dream impulse wave has seen BCH rip through the structure to its left on chart in a 2 hour blast last night - from 1580 to 2100, up 33% in just over 120 minutes. And people think FB's cool! This does in 2 hours what FB does in a year. It is indeed a strange and beautiful world, especially crypto world. It's now consolidating, perhaps in the early stages of a flag formation...likely to bounce from each of the blue support lines, at 1766 for bounce to 1849 where it should come off again, ideally to 1700 where it should bounce once more back to 1766 and come off one last time, maybe right back too 1638 start point of this entire recent blast - where, after rinsing out every stale bull still left long from higher levels, it will be ready to go again. It's a game. Recognise it for what it is. And play it.
B
by sumastardon
1
BITCOIN: BTCUSD Playing the ParabolaBITCOIN:BTCUSD Gone Parabolic Bitcoin throws some beautiful moves on the chart and will go down in the history books and Charting Books of the future as a text-book example of what a scrap of (electonic) paper can do if the story behind it is written well enough. Right now this is the best of the best, making Facebook and Google and Tesla look lame. How long can this keep going on before it boils over? One thing for sure, parabolas are very rare in real time (they are everywhere on the monthly charts...put the Dow DOWI on monthly chart and see all history and a parabola emerges - not so perfect as Bitcoin, but basically parabolic in shape on linear chart) . But Bitcoin is something else - so rare and beautiful to see one unfold. There is no sense in fighting a parabola. Every bear lies slaughtered for miles around as evidence. This bull will rip you a new one before you even have a chance to take your pants down. Nevertheless we can see from the chart on right that the current surge from 6165 up to 7500 high precisely has been very lightly contested/fought over - there has been some push and pull, shown on the left hand chart, throughout this recent ascent, with some nice positive pin bars each time the rising support line that's underpinning the ascent is touched - but returning to right hand chart it's clear that usually moves such as these have to be backed and filled first before the rally resumes in earnest, and in doing so it should give those still wishing to get long of this monster one last fleeting chance to do so... At the moment it's found support just above the supports shown on left hand chart and trying to fly higher - it needs to take out 7500 now to stay positive... if we see it falter and fail just above or just below 7500 then we have the first sign that a turn might be approaching fast...next sign would be a breaking below 7061 and a fall below the rising support line shown on left hand chart. Only at that point will the near term picture start to turn negative for Bitcoin. It should then fall back to the old highs around 6165 - to the rising support line shown on right hand chart at around this level - that would be the perfect entry point for those wishing to ride this tiger...time will tell.
BITSTAMP:BTCUSDLong
by sumastardon
4