Bitcoin: BTCUSD Clean BS free chart
BITCOIN: BTCUSD
The upper parallel finally popped creating another surge up to the last resistance before the highs at 2685 with a new high
for the run at 2689 so far. If it runs too fast like that it's a gift to close out and buy back lower for day traders and that's
what's happened again here. Now the question is whether it can hold up above the parallel it's duelling with right now.
Would be a real show of strength if it can print above the line on next interval on 30 minute chart. If it can it should reach
the highs earlier than anticipated. It's just passed this test as this is written, good for bulls.
Whatever, am placing limits now to close out at 2745 if struck. So difficult to know what will happen at the highs,
assuming we get there (no counting chickens yet). How many others will have the same very obvious target in mind and,
key, how many more others will simply see this as just another stepping stone towards ever higher values? Who the
hell knows, except the chart. That 's our best bet from here still. So if you're around for the moment still suggest closing
out just under the high at 2750-4 and watching price action from there...big red candle forming ? Bull engulfing ? Short
into the next tiny rally with stops above the highs. And if on the other hand the sell off seems lazy and doesn't create a big
red maybe this is just another step and nothing more...but considering we got about a 120 to 150 point consolidations at
lower levels it would be surprising if we couldn't sell from the highs and buy back at least 120 - 150 points lower this time too.
Some will choose to short blind at 2752ish with stops 10 to 15 points above, ready to reverse if hit.
If you play this game and buy back lower down, then close out again if the highs get re-tested. Those gains can be used as
stops for the next part of the trade...the potential break-out above the potential danger zone spanning 2745-2765. Got to
see 2765 broken so we know all the last stops have blown and then wait for a little pull-back, ideally to 2755 but we may
not see it (if we don't it's very strong again at this point, obviously) - just get long and hold on to your hat with stops
under 2740. Good, disciplined trading. No emotion. Tonight you are a robot. OK.
BITCOIN: BTCUSD
The upper parallel finally popped creating another surge up to the last resistance before the highs at 2685 with a new high
for the run at 2689 so far. If it runs too fast like that it's a gift to close out and buy back lower for day traders and that's
what's happened again here. Now the question is whether it can hold up above the parallel it's duelling with right now.
Would be a real show of strength if it can print above the line on next interval on 30 minute chart. If it can it should reach
the highs earlier than anticipated. It's just passed this test as this is written, good for bulls.
Whatever, am placing limits now to close out at 2745 if struck. So difficult to know what will happen at the highs,
assuming we get there (no counting chickens yet). How many others will have the same very obvious target in mind and,
key, how many more others will simply see this as just another stepping stone towards ever higher values? Who the
hell knows, except the chart. That 's our best bet from here still. So if you're around for the moment still suggest closing
out just under the high at 2750-4 and watching price action from there...big red candle forming ? Bull engulfing ? Short
into the next tiny rally with stops above the highs. And if on the other hand the sell off seems lazy and doesn't create a big
red maybe this is just another step and nothing more...but considering we got about a 120 to 150 point consolidations at
lower levels it would be surprising if we couldn't sell from the highs and buy back at least 120 - 150 points lower this time too.
Some will choose to short blind at 2752ish with stops 10 to 15 points above, ready to reverse if hit.
If you play this game and buy back lower down, then close out again if the highs get re-tested. Those gains can be used as
stops for the next part of the trade...the potential break-out above the potential danger zone spanning 2745-2765. Got to
see 2765 broken so we know all the last stops have blown and then wait for a little pull-back, ideally to 2755 but we may
not see it (if we don't it's very strong again at this point, obviously) - just get long and hold on to your hat with stops
under 2740. Good, disciplined trading. No emotion. Tonight you are a robot. OK.