Bitcoin: BTCUSD Wave and Price just keeps Growing
Life and Times: Just Another Manic Sunday - Bear Witness to the Fastest Market in History - Bar none.
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.
Life and Times: Just Another Manic Sunday - Bear Witness to the Fastest Market in History - Bar none.
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.