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Testing-support

Bitcoin testing supports and looking for a new bottomAs bitcoin has broken through support at 37,000, it is now exploring aggressively the support line at 36,500 respectively 36,000. If support breaks at 36,000, the next support line which Bitcoin can be exploring will be at 35,500 35,500 is also the ultimate support after which an approximate closer bottom can perhaps be seeing at approximately 33,000 Traders should be mindful of both short and long trades. The current Bitcoin trading area is no man's land.
by Mortdecai
BTC Testing support now as we speakMini bearflag broke down perfectly, and hit my target. It wicked below it quickly but support ended up holding until it bounced and came right back in. If where we are currently at 8770 doesn't hold and 8k is our next spot of good support. Buy volume is not looking that strong, 6k is totally possible in the short term. We may just need to visit and test that bottom before having our days of green again. Notice how the thin red down trend line from our previous highs is acting as support as well.
COINBASE:BTCUSDShort
by tokeylokey66
Bitcoin: BTCUSD On Important Support Right nowBitcoin. Clock-Work 05:53 est another 01:00 gmt low, another at 06:00gmt. And high at 10:00 - right on the upper parallel where longs who bought at 6am have closed out for 450 points - day's work done. Now has to climb above the upper paralle and hold there on retest once broken to turn back to bullish again from here. Unlikely in very nearterm but it's trying hard here. We have had 4 waves down which is standard stuff for Bitcoin so this decline could be over but it still has some work to do to bust above the mass of resistance gathered above it from here...the old neck-line - can only get long from here once the upper parallel is busted and held - all it's done so far is a nice little counter rally to exactly where it should stop. We got some far Eastern interest at 01.00 and some European interest at 06:00 and now we'll need US interest to help it move higher from here - in meantime it needs to unwind a little. So far it's holding at 10100 but when this gives way it should fall back to support at 9965-9855 07:07est Last low on Bitstamp at 9935 with a nice spike under it on 15 minute - and now we have a break of the upper parallel and test of the first line of resistance at 10254 as early birds in US catch the worm - likely to push on up to the neckline by 14.45gmt, maybe in the 15 minute candle on US official open - if you got long on the last dip as above stay with it and raise stop to just under the low at 9930 for small loss if wrong from here. Look to close out in the 10300-10350 range where fixed and dynamic resistance begin to merge. But we 've broken the down-trend and need to be ready to get long again when and if that uppermost dynamic/old neck-line is broken above and held (now at 10345) - can follow the break with stops below 10300 when it happens. Bulls have 4 waves down which signals potential completion - but the bears have that Head and Shoulders on their side still - bulls gotta break that neck-line next big test - then we are off to the races with a relief rally - but not until...day traders are using the smallest dynamic here on 3 minute by look of it... 09:09est After moving sideways above the parallel for a while Bitcoin has come back to life as expected with US opening. Now testing the target at 10300-10350 with a spike high at 10372 on bitfinex....so closed out and looking to buy again lower , maybe only as low as 10300 ... 09:14 Had to get that uploaded quickly - so this is looking good again - has just poked above the dynamic/old neck-line on Bitstamp which is the big test now...buying across 3 continents - just neeed to beware a suck in here though...but if it can hold up here above 10350 and the dynamic this is going to rally very well now...
CME:BTC1!Long
by sumastardon
UKOIL: Brent testing support off the old highs. Strong stillBrent Crude Oil UKOIL Brent recently broke the long term parallels that had carried it faithfully within its force ever since the lows at 44. Now it's almost exactly 50% higher, with a new high set at 65.70. We were short on the break below the parallel and then closed out around 61.15 for around 90 pips profit. Good thing we did. Bad thing we didn't go massively long again there with stops just below for a tiny loss if wrong at that point. Easy to say now, and we would have in 'normal' circumstances, but that big broken parallel above was stopping it from even being contemplated. What a shame. A parallel that had been so faithful for so long now let us down with a poor technical signal (in hindsight only, unfortunately) for the first time since inception from the lows. Sometimes even your best girl/boyfriend can let you down. The resulting 450 pip rally has blown every bear clean out of the water, creating a massive impulse wave which is contained within the parallels shown on the chart. It is now probing the intersection of the lower parallel with fixed support at 64.25, the old highs - it's a buy here with stops below 64.15 for small loss if wrong. It's a sell again when the upper parallel is tested . Brent remains strong whilst travelling within the impulse wave and only turns near term negative again for test of 63.03 if the lower smaller parallel is lost at any point from here. Until we see that happen, look to buy dips to this smaller parallel with stops below it by 15-20 pips
FX:UKOILLong
by sumastardon
SHORT Short term bearish move in BitcoinI see bitcoin dropping to around 2k and possibly lower, saw a good setup so I thought I would share with you guys. This is in a bull trap right now and needs to test support it also has a very good risk to reward for shorting. If you own bitcoin it might be smart to take some profits and cash into something else (altcoins - fiat ) . another good buy opportunity will arise 5.04% at some point here soon but for now we didn't have enough upward momentum to make the bullish move to 5k. I will keep you guys updates! let me know if you have any questions in the comments below. Thank you!
BITSTAMP:BTCUSDShort
by High_Altitude_Investing
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