Bitcoin: BTCUSD Breakout with minimum upside target at 14234
Bitcoin Coinbase Feed Break Out with upside target at 14234
Very remiss - left the post yet again to attend to 'other' feed. (If you are a serious aficionado of Bitcoin and want pretty
much round the clock updates please check for details at top left of sumastardon page.)
We did buy again at 13417, right on the line, if anyone would like to check and then finally a decent pattern emerged - yet
another beautiful reverse head and shoulders pattern - not so well defined on Coinbase but perfect on Bitstamp, (next chart
upload) and with a minimum upside measurement implication at 14234 on Bitstamp. Look to buy this dip now as close to
13600 on Coinbase and get long to the target with a stop about 200 lower.
Bitcoin Early Sunday Comment and Update
After two bad trades losing 50 to 100 points apiece, Bitcoin turned negative again on a break below 13900 and triggered a
short back to '13600 minimum and more likely back to 13400-13300 range before looking to buy once more,
conditions permitting and showing some support/fight emerging at these levels if struck at any point overnight.' So
after a disastrous long from close to the lows and another higher up, both of which lost 50-100 points apiece, the short
came good with a 500-600 point win. Not at all what was intended as the day began - but we follow the chart and act
on the signals it gives us and that was the result of following the chart overnight on Saturday. Despite spiking lower than
this price action this morning has stabilised around the 13300 level and will have encouraged some to get long again - if so
raise stop high underneath it as it's likely to come off again from around 13600 on Coinbase and just 50 points higer at
max on Bitstamp...close out the long here and will look to buy back lower again on the next dip...
Update
Bitcoin Coming up to the next sell point here...one last blast down from 13417 most likely if very weak and from 13573
highest on Coinbase - this next decline is likely to be the last so will be looking to get long again soon most probably...
Very remiss - left the post yet again to attend to 'other' feed. (If you are a serious aficionado of Bitcoin and want pretty
much round the clock updates please check for details at top left of sumastardon page.)
We did buy again at 13417, right on the line, if anyone would like to check and then finally a decent pattern emerged - yet
another beautiful reverse head and shoulders pattern - not so well defined on Coinbase but perfect on Bitstamp, (next chart
upload) and with a minimum upside measurement implication at 14234 on Bitstamp. Look to buy this dip now as close to
13600 on Coinbase and get long to the target with a stop about 200 lower.
Bitcoin Early Sunday Comment and Update
After two bad trades losing 50 to 100 points apiece, Bitcoin turned negative again on a break below 13900 and triggered a
short back to '13600 minimum and more likely back to 13400-13300 range before looking to buy once more,
conditions permitting and showing some support/fight emerging at these levels if struck at any point overnight.' So
after a disastrous long from close to the lows and another higher up, both of which lost 50-100 points apiece, the short
came good with a 500-600 point win. Not at all what was intended as the day began - but we follow the chart and act
on the signals it gives us and that was the result of following the chart overnight on Saturday. Despite spiking lower than
this price action this morning has stabilised around the 13300 level and will have encouraged some to get long again - if so
raise stop high underneath it as it's likely to come off again from around 13600 on Coinbase and just 50 points higer at
max on Bitstamp...close out the long here and will look to buy back lower again on the next dip...
Update
Bitcoin Coming up to the next sell point here...one last blast down from 13417 most likely if very weak and from 13573
highest on Coinbase - this next decline is likely to be the last so will be looking to get long again soon most probably...
Comment:
Pattern here in short term is not very inspiring so am closing out long at 13790 for a small 380 point profit and look to re-enter from lower again
Comment:
Forced into buying back higher up once 13790 had been breached (at 13855 so not exactly what we wanted: price action can be so fast with Bitcoin that it's not possible to type out a new update, format and then upload it within 3 minutes flat, so if you want pretty much real-time updates please check out the top left of sumastardon page for more) Bitcoin has flown higher in a great green streak of buying...the minimum upside target set last night by the reverse head and shoulders was 14234. It has in fact topped out right now at 14246 - so the target has already been reached. But, there is now a bigger reverse head and shoulders in formation...with an updside target at 17220...more in next update
Testing the neckline of the RHS - for those who have patiently waited for or thought they'd missed the chance after it started to race higher ealier on the initial break, now is the chance to buy on dips down to the line - potentially right down into the apex - but this is a buy with stops at least 100 below the neck-line