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Sunday

Bitcoin: BTCUSD Sunday Trade Points from HereBitcoin Sunday Trade Points Well, the long triggered from 7005 was a bad trade- but the stop was just under 7000 so at least the loss was small - sorry for that. Bitcoin hasn't done much though overnight, staying largely neutral. It still looks capable of flipping either way from here so we need to be prepared for both eventualities. It has not fallen away overnight, but instead formed new parallels on all 3 charts. On upside has to break above 7010 to trigger a long with stops 60 or more lower . And on downside Bitcoin has to break the lower parallel to start falling away harder from here - then has to break below 6890 to trigger a short with stops above 6935. But until we see either eventuality Bitcoin is overall neutral so far Sunday.
BITSTAMP:BTCUSD
by sumastardon
9
Bitcoin: BTCUSD Key Levels and Breaks for Sunday Trades Bitcoin Bitfinex Feed Sunday Update The first short yesterday from 7049 was stopped out at 7061 for a 12 point loss. Bitcoin went on to make a high after that at 7071 - a poor stop by 12 points. This is my bad here, not the chart's - just a poorly judged spot for the stop. Sorry for that one. Anyway the second time it broke 7050 gave another chance to short and this time when it next counter-rallied the high was 7038 and the short stayed good if you took it on the second time around. The low today is 6615 on Bitfinex. Last gasp support today lies in an 80 point range from 6615 down to 6535. Bitcoin should try a rally attempt from here so look to close out shorts in this range. The next short from here triggers once 6600 is broken, aiming for another test of 6000 with stops 50 or more higher once broken. On upside some day traders will reverse long down at these levels for a test of the falling dynamic at around 6850 but it's quite a risky trade and until that same litttle dynamic is broken to the upside Bitcoin will remain vulnerable. The rally we are seeing now should stop there and day traders will likely close out longs there at around 6863. Bitcoin will have to break above this dynamic for the rally to be worth following higher to 7221 with stops under the dynamic when broken above. But any potential swing longs will have to wait for 7221 to be broken above to follow long with stops 50 or more lower. Until we see that happen Bitcoin remains under pressure but cannot be shorted again from here until 6600 breaks.
BITFINEX:BTCUSD
by sumastardon
12
BTCUSD: SundayTradesBitcoin Bitcoin Sunday Update Sunday Trade Points 16:40gmt/11:40est Since breaking higher on US opening interest Bitcoin has surged above the small dynamic and triggered a quick 140 win up to 8600 in the process - but the rally has been short-lived and was quickly sold above 8600, bringing Bitcoin back down towards the first support line at 8450 again. It's a speculative buy again here with stops just 25 below for smallish loss if wrong from here. 11:33gmt/06:33est Overnight Bitcoin has fallen to a low at 8364 on Bitfinex which is 26 points shy of the downside target at 8337 before rallying. The lows on Coinbase and Bitstamp were 8400 and 8398 respectively, quite a big difference. After a challenging Saturday Bitcoin is trying to build a base come Sunday morning. But it's still vulnerable whilst unable to break above 8600 and until it can find buyers enough to break above here and to trigger the next swing long Bitcoin is likely to range trade between resistance at 8600 and support at 8450 with day traders selling off 8590 with stops above 8600 and trying to push it lower. But it's not reacting much and no great sell stampede is being triggered as yet. Despite near term downward pressure Bitcoin only turns back to full-on negative again if 8245 is broken at any point later today, so it's only at that point that the next swing short will trigger, targeting 8047 initially and then, after a bounce there, back to 7525 On the upside, in very near term, there is a tiny dynamic holding back price to the upside which day traders are using as a stop line for shorts so far today. A break above the line, now at 8460 will trigger a fast 140 point surge to 8600 where it should pause again and come off some more. For it to turn back to positive today and to trigger swing traders back long from this point Bitcoin then has to break above 8600 and hold on Bitfinex to trigger the next swing long from here, looking for a rally to 8777 initially and then, after consolidating some, a move higher still to 8995-9094 range. But until that little dynamic above price is broken to the upside Bitcoin remains vulnerable to further selling near term pressure. *For fastest Bitcoin updates on weekends please see top-left of main page for link
BITFINEX:BTCUSDLong
by sumastardon
8
Bitcoin: BTCUSD Next Key Trade Points for Sunday TradesBitcoin Trade Points for Sunday Trades Update: Bitfinex Feed 12:27gmt/07:27est Bitcoin is really trying to break the downtrend here - a bear engulfing green ...can buy or add once it's broken through to upside if we see it. It's tracking a narrow corridor/band of uncertainty right now, trying to figure out he next move - cannot be trusted for sure as a result but it looks to be trying for the upside now, at least. Use a stop and try to run it up if possible if this break does actually materialise from here - it may not be possible except in head, but watch for a failed break - this time last week in 10 minutes'time we got an amazing burst upwards if you remember... It's Bitcoin - anything can happen anytime. That's half the fun, isn't it ? Downside potential still as comments above Sunday 10:32 gmt/05:32est Update Bitcoin Sunday Although Saturday was a slow day again we did at least manage to squeeze 310 points on the first short and then 200 or so on the counter-rally long before getting stopped out. Overnight Bitcoin has fallen to the next downside target at 7547 making a new low for this decline at 7550. If you were up and around for that move too then you've had a very profitable Saturday. Some people still have to work for a living...whilst others play Bitcoin. Those with long memories will know that 7547 was the most likely downside target mentioned back in the mists of time, nearly 2 weeks ago now. But the overall pattern is still bearish nonetheless. If you reversed back long at 7550 you have traded brilliantly and don't need much help or much guidance here any more. But the rally from the downside target has been feeble so far and if long here you'll know already that this is still high risk (but still the right trade as the stop can be very close to entry, just 20 or so under 7550 entry, so low risk but potentially high reward). It can easily come back to the low again at 7550 but it has to hold up here for any failure to do so at any point today by more than 20 points will flip Bitcoin back to negative yet again and force it lower, most likely to the next support line at 7221 and then, once this gives way, back to 5915 on Bitstamp where we will probably look to buy again if price action allows. Returning to the upside Bitcoin is tracking within a small parallel and cannot be bought again from here unless it is broken above - and only then for a spurt back to the bigger dynamic waiting above it at around the 8079 level. As things currently stand this level is the key to the upside for Bitcoin over the more medium term. It has to break and hold above here for the bulls to regain any real control. Once again, even if that looks unlikely right now, we still have to be prepared for any eventuality. It's Bitcoin, after all.
BITFINEX:BTCUSD
by sumastardon
Bitcoin: BTCUSD Key Lines and Levels for Sunday TradesBitcoin Sunday Update Key Lines and Levels Today Overnight Bitcoin has made a minor double top at 11530-11500 with a rejection spike into the secondary high showing loss of upside momentum and the first sign that this rally is showing of running out of steam here. In the process it has lost the support of the lower big rising parallel and is now making a continuation pattern within a smaller set of declining parallels which are guiding the current descent. We were using the lower rising parallel as the final trigger to close down longs and so should have been busted out around 11230-11190 range for a smallish 280 or point profit on a trade which went wrong on us overnight. Not great. But we've still bagged 1424 points of profit here over this last week so it's not all bad news. But it was disappointing that the next target at 11790 was never met overnight all the same as we were looking to short from there when touched. Too bad. We begin again... Bitcoin is currently trapped between the declining parallels of the continuation pattern but we cannot consider buying again unless and until the upper parallel is broken above at which point we can enter long once more with stops 50 or so below the break point/upper parallel. Day traders will play the parallels in the interim, looking to buy off the lower parallel and sell again off the upper. But there is resistance at the 11192 line and it must break above here for day traders to stay long now for another 200 points back to 11300-11310 and the junction where the parallels intersect- For the rest of us looking for the next swing trade, we have to wait to get long until that upper falling parallel has been broken above and has been retaken by the bulls and held. Then we can follow. Until we see this price action develop we wait and watch. We may get an opportunity to get long from much lower down yet...but the break of the lower rising parallel is not helpful to the bull case and some day traders are shorting from the 11192 line with stops above in the belief that upside momentum is spent, so we have an eachway push and pull which day traders are playing, though not with much conviction either way so far. The rest of the market is watching and waiting for the next clear signal to enter. More as the move develops through the day - for fastest updates please see top left of main page
BITFINEX:BTCUSD
by sumastardon
18
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
NZYJPY Long | Sunday Night Trading?I have been looking for a pair to Focus on Sundays Nights as a potential Trade Pair for achieving 15-30 Pips after the Open. NZDJPY looks to be a great option as the potential Daily Volitatility stands at around 100+ Pips. Being that New Zealand and Australia overlap with the Asian Sessions around 9:00PM EST, I believe this pair to hold the most potential for Quick Intraday Trades Placed on Sunday. The current Setup on NZDJPY is Quite Bullish, I have a Prev Daily High and Low Indicator on showing me that the Market Has taken out Prev Highs and Made New Highs. I will Be looking for a restest of the Prev High on Sunday to Take a Long Positition.
Long
by ScholarGC
Bitcoin: BTCUSD Just a another Manic Sunday/Next buy pointBitcoin: BTCUSD Wave and Price just keeps Growing Life and Times: Just Another Manic Sunday - Bear Witness to the Fastest Market in History - Bar none. Next Buy Point for last 500 Update/positions: Yesterday we got stopped out at 10900 for a 900 point win from 10008 and were looking to re-enter from 10638 in a perfect set-up - it was close but no cigar with the subsequent low being 20 points higher. See how it made that base under the highs? Hardly bearish was it? If it was bearish it just would not have behaved like that. Remember this behaviour! You're going to see a lot of it in this environment on other Alts at different points ...see how it behaves under old highs: does it recoil hard, big red candles of rejection or it lazy, almost disinterested? Long term holders don't give a hoot for whether price is 12 or 13 or 9 or 21. it's just a number. They ain't selling. No supply. Lots of demand, and - as humans are wont to do - we are somehow much happier paying 11.5 now than 9.5 just 48 hours ago. Humans! Are we not, like Bitcoin itself, a piece of work to behold ? Traders' Update Look at this wave now. It's tidal, tsunamic in size. It grows as fast as Alien and moves 100 times quicker. If day trading, or holding long again from 10650 ish lows of later yesterday prepare to take profits as the upper parallel is tested, spiking up into the top-most parallel at best before falling away again... looks likely to come back to 11385 at some point and potentially to 11070 - note the two little pins at the top - a tiny tiny fractal flag is forming by the look of things before the next surge to the upper parallel. it looks like it will consolidate close to the highs and at worst dip to 11500 and perhaps spike to 11385 at lowest before it rallies again to hit the upper parallels. Next buy/add point if we don't fall away further from here comes on the break of the tiny dynamic coming off the highs. But close out again at the parallel for 400 to 550 gains. If we see this challenge above 12000 and into 12150 range it is possible that we then see a large collapse start from there ...doesn't have to happen, but would be 'normal' behaviour in any other 'stock'. The problem is Bitcoin is hardly 'normal'. Supports shown on the chart are the most likely spots to expect support to step in later on today/tomorrow. * Sorry once again: was banned for 24 hours for posting a text wall to chat room. Bad bad bad
BITSTAMP:BTCUSDLong
by sumastardon
21