Bitcoin
Bitcoin Sunday Update Sunday Trade Points
16:40gmt/11:40est
Since breaking higher on US opening interest Bitcoin has surged above the small dynamic and triggered a quick 140 win up to 8600 in the process - but the rally has been short-lived and was quickly sold above 8600, bringing Bitcoin back down towards the first support line at 8450 again. It's a speculative buy again here with stops just 25 below for smallish loss if wrong from here.
11:33gmt/06:33est
Overnight Bitcoin has fallen to a low at 8364 on Bitfinex which
is 26 points shy of the downside target at 8337 before
rallying. The lows on Coinbase and Bitstamp were 8400 and
8398 respectively, quite a big difference.
After a challenging Saturday Bitcoin is trying to build a base
come Sunday morning.
But it's still vulnerable whilst unable to break above 8600 and
until it can find buyers enough to break above here and to
trigger the next swing long Bitcoin is likely to range trade
between resistance at 8600 and support at 8450 with day
traders selling off 8590 with stops above 8600 and trying to
push it lower. But it's not reacting much and no great sell
stampede is being triggered as yet.
Despite near term downward pressure Bitcoin only turns back
to full-on negative again if 8245 is broken at any point later
today, so it's only at that point that the next swing short will
trigger, targeting 8047 initially and then, after a bounce
there, back to 7525
On the upside, in very near term, there is a tiny dynamic
holding back price to the upside which day traders are using
as a stop line for shorts so far today. A break above the line,
now at 8460 will trigger a fast 140 point surge to 8600 where
it should pause again and come off some more.
For it to turn back to positive today and to trigger swing
traders back long from this point Bitcoin then has to break
above 8600 and hold on Bitfinex to trigger the next swing long
from here, looking for a rally to 8777 initially and then, after
consolidating some, a move higher still to 8995-9094 range.
But until that little dynamic above price is broken to the
upside Bitcoin remains vulnerable to further selling near term
pressure.
*For fastest Bitcoin updates on weekends please see top-left
of main page for link
Bitcoin Sunday Update Sunday Trade Points
16:40gmt/11:40est
Since breaking higher on US opening interest Bitcoin has surged above the small dynamic and triggered a quick 140 win up to 8600 in the process - but the rally has been short-lived and was quickly sold above 8600, bringing Bitcoin back down towards the first support line at 8450 again. It's a speculative buy again here with stops just 25 below for smallish loss if wrong from here.
11:33gmt/06:33est
Overnight Bitcoin has fallen to a low at 8364 on Bitfinex which
is 26 points shy of the downside target at 8337 before
rallying. The lows on Coinbase and Bitstamp were 8400 and
8398 respectively, quite a big difference.
After a challenging Saturday Bitcoin is trying to build a base
come Sunday morning.
But it's still vulnerable whilst unable to break above 8600 and
until it can find buyers enough to break above here and to
trigger the next swing long Bitcoin is likely to range trade
between resistance at 8600 and support at 8450 with day
traders selling off 8590 with stops above 8600 and trying to
push it lower. But it's not reacting much and no great sell
stampede is being triggered as yet.
Despite near term downward pressure Bitcoin only turns back
to full-on negative again if 8245 is broken at any point later
today, so it's only at that point that the next swing short will
trigger, targeting 8047 initially and then, after a bounce
there, back to 7525
On the upside, in very near term, there is a tiny dynamic
holding back price to the upside which day traders are using
as a stop line for shorts so far today. A break above the line,
now at 8460 will trigger a fast 140 point surge to 8600 where
it should pause again and come off some more.
For it to turn back to positive today and to trigger swing
traders back long from this point Bitcoin then has to break
above 8600 and hold on Bitfinex to trigger the next swing long
from here, looking for a rally to 8777 initially and then, after
consolidating some, a move higher still to 8995-9094 range.
But until that little dynamic above price is broken to the
upside Bitcoin remains vulnerable to further selling near term
pressure.
*For fastest Bitcoin updates on weekends please see top-left
of main page for link
Comment:
Bitcoin Update Monday
Bitcoin neutral again in near term.
Battle raging ina 100 point range between bears selling off 8470 and Bulls buying off 8372 line. But bears cannot push it lower so far. Three sections down and each one has made low at 8372 line. Downward pressure is waning and showing loss of momentum. We are still short from yesterday's break of the rising dynamic but this is so lazy here. Am closing out and then will look to short again on a break below 8360, running a stop just above 8380 and trying to drop it lower at first opportunity.
On the upside Bitcoin has to break above the falling parallel above it to trigger the next long from here with stops below 8450
Bitstamp Chart Update
Bitfinex Update
Coinbase Chart Update
Bitcoin neutral again in near term.
Battle raging ina 100 point range between bears selling off 8470 and Bulls buying off 8372 line. But bears cannot push it lower so far. Three sections down and each one has made low at 8372 line. Downward pressure is waning and showing loss of momentum. We are still short from yesterday's break of the rising dynamic but this is so lazy here. Am closing out and then will look to short again on a break below 8360, running a stop just above 8380 and trying to drop it lower at first opportunity.
On the upside Bitcoin has to break above the falling parallel above it to trigger the next long from here with stops below 8450
Bitstamp Chart Update
Bitfinex Update
Coinbase Chart Update
Comment:
...If you ever wondered what it's like trading FX markets we're beginning to get an idea. Bitcoin is becoming less volatile in its old age. Still 20 times faster than DXY but it used to be 240 times faster last year. Am dropping stop behind it now and may well get hit for small win if so.
Closing out now and ready to short again.
...
Bitcoin Coinbase Chart Update
Next short about to trigger back to 8093 line - right on the support line at 8275 now. A break here triggers next short - with stops 50 or so above
For fastest updates link please see top left of main page
Closing out now and ready to short again.
...
Bitcoin Coinbase Chart Update
Next short about to trigger back to 8093 line - right on the support line at 8275 now. A break here triggers next short - with stops 50 or so above
For fastest updates link please see top left of main page
Comment:
Am lowering the stop on this short to 8230. Or can be left at 8275 if you prefer to run it.
Looking to close out on test of 8093 on Coinbase, ideally. But it's falling quite fast and the parallel under
Then be ready to short again on a break below 8070 with stops 50 or more higher
Bitstamp Chart
Bitfinex Chart
Coinbase Chart
Looking to close out on test of 8093 on Coinbase, ideally. But it's falling quite fast and the parallel under
Then be ready to short again on a break below 8070 with stops 50 or more higher
Bitstamp Chart
Bitfinex Chart
Coinbase Chart
Comment:
Bitstamp - Bam
On the line - can close out and be ready to short agin once broken by 20 points with stop 50 -100 higher
11:23gmt/06:23est
This is a big break coming ...be ready to short again as above...it's on the brink but holding off the parallel so far....on brink of the abyss and having a think...better than Netflix again
Bitstamp Chart
Bitfinex Chart Limit down here too - Big break coming next when triggered - a 20 point drop below the line here... stops 50 above it when broken
Please see top left of main page for link to fastest Bitcoin updates in real-time today
On the line - can close out and be ready to short agin once broken by 20 points with stop 50 -100 higher
11:23gmt/06:23est
This is a big break coming ...be ready to short again as above...it's on the brink but holding off the parallel so far....on brink of the abyss and having a think...better than Netflix again
Bitstamp Chart
Bitfinex Chart Limit down here too - Big break coming next when triggered - a 20 point drop below the line here... stops 50 above it when broken
Please see top left of main page for link to fastest Bitcoin updates in real-time today
Tracking higher within a continuation pattern that looks as if it will fail later - but until it does it cannot really be shorted yet - the lower dynamic of the pattern has become quite well defined now but the upper dynamic is a little more sketchy - if trading this range for scalps suggest running trailing stop fairly tight under price as it rises - can come back again - and ultimately fail. It's a short when it does so with stops above the lower dynamic of the continuation pattern when it eventually happens ...a run up just before the futures re-open
Bitstamp Feed
Bitfinex Feed
Coinbase Chart Update
*For fastest updates please see top-left of main page for link