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Bitcoin: BTCUSD Running on Empty - needs buyers - don't followBitcoin: BTCUSD So far only Corrective/Continuation Running on Empty Bitcoin has at least rallied from the double bottom fake-out low this morning in London but the rally has been feeble so far. Since the low it's formed another little parallel with a bearish upslope, though it does at least have a few pin bars forming off the lower parallel, showing some interest at lower levels.Any green bars quickly hit as the upper parallel is hit as Bitcoin lies trapped in a narrow range too tight to trade even by day-traders now as mean spreads stop the thing almost dead as this is written. It should still grind higher but this is ridiculous now. WTF at 7178? If long be careful, unless we see some green bars emerge soon this is going to fail again. Get out on a break below lower parallel or on test of 7274 if it stays above the parallel from now for 200 points profit if we see it. Only a big green candle is going to save Bitcoin now... It's back in the balance...it really needs a push here. And if it does now fall out of the parallel it's probably time for day traders to start selling too, initially back to 7070-7060 and then harder still if 7050 gives way back to critical support at 6960-6930. As before, this range is last-gasp support for Bitcoin. Any fall below 6900 should be followed by swing traders not too burned by yesterday's debacle, with a stop just above 6960 for a collapse back to 6312 at least and potentially to 6165.
BITSTAMP:BTCUSD
by sumastardon
1
GBPUSD:Will usher in a new round of decline?GBP continued to fall two conditions required: 1.U. S. economic data must be strong next Monday, the probability is greater than 60%, because the employment data on Friday exceeded expectations 2.Next week, the Bank of England rate decision must clearly release a loose signal My point of view is The pound will continue to fall next Monday and Tuesday. Wednesday, Thursday a sharp shock, waiting for the interest rate decision Friday because Thursday's resolution is uncertain. The specific operation points will be given on Monday.
by Daniel_Wu
8