lower lows/head & shoulders pattern I warned about is triggeredI exited at 7632 like I said in my previous idea...I wil not jump back in until I see a series of higher low/higher high and then a follow up confirmation higher low. Hopefully when we see this I can still jump back in early enough to accumulate some extra btc on the dip. If I bought back in right now I would make and extra .07 btc..but without the higher high higher low higher high first it is a good probability that it will continue to dip. Just my own personal strategy the strategy you choose for yourself is entirely up to you. I am short until I see the higher low higher high pattern confirmed.
Triggered
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
Bitcoin: BTCUSD Yet another reverse Head and shoulders triggeredBitcoin Update
If you've managed to stay with this overnight from the entry point at 13418 just 10 hours ago now you've done well. We
bought again on the retest from above of the neck-line of the smaller reverse head and shoulders, now obscured on the
chart by a larger one in formation, but shown at the green arrow point of entry. The minimum upside target created by
the RHS was 14234. The high reached so far is 14270, so 800 or so points in 10 hours of sleep/or frantic thumb twiddling
depending on which side of the globe you happen to live.
Interestingly, there is another much larger reverse head and shoulders in formation now....And a break above 14300 will
trigger it, creating a new upside target 2012 points higher still, at 16,312. Look to buy the break or can wait for a retest
of the neck-line from above with stops 200 or so below the neckine which is now being tested as this goes to press. Do
not be scared by any retest we get later on today from above...it's a buying opportunity.
TRJEFFCRB Index testing critical support break below spells doomCRB INDEX tesing critical support at 176.721. This level separates the last Bulls from the Bears. If it fails at any point by more than 10 pips it will turn already poor technicals even more bearish and signal another significant down-wave across most complexes associated with this index has begun.