BTCUSD: Bitcoin Monday Trade Points
Bitcoin is still negative, dropping in stages and slowly breaking
bull hearts and messing with bear heads as it does so.
Once it broke the lower parallel here on Coinbase it was
expected to fall away to the 7162 line before bouncing again
towards 7200 before falling away again.
Overnight it came back to a low of 7167 before the bounce
back to 7200 after a counter-rally high at 7246.
It's so slow still.
Unless still short from higher up we now need to see a move
below 7162 line to trigger the next short back to the
6615-6517 range. It should then start to fall away in stages to
6955, then 6849 and finally to the target at 6615-6517 range.
Right now have no real interest in upside potential yet - but
stops on remaining shorts need to be left above 7252 for now.
More as the move develops - which may be slow - but is still
coming by the look of the chart at this point.
Bitcoin is still negative, dropping in stages and slowly breaking
bull hearts and messing with bear heads as it does so.
Once it broke the lower parallel here on Coinbase it was
expected to fall away to the 7162 line before bouncing again
towards 7200 before falling away again.
Overnight it came back to a low of 7167 before the bounce
back to 7200 after a counter-rally high at 7246.
It's so slow still.
Unless still short from higher up we now need to see a move
below 7162 line to trigger the next short back to the
6615-6517 range. It should then start to fall away in stages to
6955, then 6849 and finally to the target at 6615-6517 range.
Right now have no real interest in upside potential yet - but
stops on remaining shorts need to be left above 7252 for now.
More as the move develops - which may be slow - but is still
coming by the look of the chart at this point.
Comment:
v Bitcoin Coinbase Update
Although Bitcoin continues to fade there's no real aggression in the market still, either side of this ongoing argument.
Volatily continues to get squeezed and trading this for big points at the moment is a big ask.
But this cannot go on forever. No complex hads ever been entirely tamed - in the end supply and demand takes over. But right now there is neither. Patience. Or we can fish in other waters whilst Bitcoin stews.
On the upside Bitcoin has to break back above 7166 line here (short stops above here for now) to make the bears back off some more and then bear closing above here should trigger a 100 point move to 7250 - needs to push above here to reach 7431 at very best today before it flips lower again.
Downside pressure is temporarily waning too but the overall pattern is still negative and rallies cannot be trusted yet .
It should fall away later again in stages to
6955 , then 6849 and finally to the target in the 6615-6517 range.
Bitcoin Coinbase Closer
Bitcoin Bitfinex Chart Update
Bitcoin Bitstamp Chart Update
Bitcoin Coinbase Update
OK. So a little a break higher to bust out bear stops around 7166 - stop hunters and bots! But at least a little continuation pattern looks to be forming now giving us break points either side of the smallest parallels . Only gets interesting again once we see a break either up or down - which we can follow with stops under 7166 if the break is higher, and more likely, above the lower smaller parallel of the continuation pattern on an eventual break lower.
For Bitcoin updates in real-time for more active traders please see link at top-left of main page.
Although Bitcoin continues to fade there's no real aggression in the market still, either side of this ongoing argument.
Volatily continues to get squeezed and trading this for big points at the moment is a big ask.
But this cannot go on forever. No complex hads ever been entirely tamed - in the end supply and demand takes over. But right now there is neither. Patience. Or we can fish in other waters whilst Bitcoin stews.
On the upside Bitcoin has to break back above 7166 line here (short stops above here for now) to make the bears back off some more and then bear closing above here should trigger a 100 point move to 7250 - needs to push above here to reach 7431 at very best today before it flips lower again.
Downside pressure is temporarily waning too but the overall pattern is still negative and rallies cannot be trusted yet .
It should fall away later again in stages to
6955 , then 6849 and finally to the target in the 6615-6517 range.
Bitcoin Coinbase Closer
Bitcoin Bitfinex Chart Update
Bitcoin Bitstamp Chart Update
Bitcoin Coinbase Update
OK. So a little a break higher to bust out bear stops around 7166 - stop hunters and bots! But at least a little continuation pattern looks to be forming now giving us break points either side of the smallest parallels . Only gets interesting again once we see a break either up or down - which we can follow with stops under 7166 if the break is higher, and more likely, above the lower smaller parallel of the continuation pattern on an eventual break lower.
For Bitcoin updates in real-time for more active traders please see link at top-left of main page.
Comment:
sumastardon admin, :
Sorry for this one
Bitcoin Coinbase Fast Update
I am wrong on the levelof the next break higher ...it's here at the high so far. If long close out half or maybe all if day trading this - next long from here from 7310 to 7431
Sorry for this one
Bitcoin Coinbase Fast Update
I am wrong on the levelof the next break higher ...it's here at the high so far. If long close out half or maybe all if day trading this - next long from here from 7310 to 7431
Bitcoin Bitstamp Feed Update