Bitcoin Bitfinex Update 14: 24gmt 09:24est
Having hit the near term target Bitcoin is unwinding off the underside of the upper parallel of what is still a large continuation pattern - it should spend some more time moving sideways to downwards as it consolidates the recent break higher and day traders take their profits and some reverse short too. It can come back to 9290 and to 9250 at likely lowest before it rallies again.
The next resistance above 9348-9361 lies at 9436 followed by 9500-9560.
13:55gmt 08:55est Bitcoin Bitfinex Break Examined
The first break above the dynamic was an initial failure and it
came back 50 points to the support line again around 9180 to
make a 3rd wave down - we look for 3/4/5 wave sequences
usually but with Bitcoin usually 4's. The 4th minor wave took
Bitcoin back above the dynamic and was followed by a retest
of the same line from above (not quite touching the same line
again, doh) before it finally moved in a near straight line
higher, with one last chance to get long at the 9250 just a few
minutes ago.
Stay long for now. Day traders will close out at 9350 though
most likely...
13:42gmt 08:42est
The dynamic has been broken and triggered the next longs.
The rally so far is not particularly great but it is bear
engulfing - it can come back some again from 9300 and just
under without some volume kicking in here - but it's Ok and
despite some sideways movement and back to the 9250 line it
should rally later to 9348 and potentially higher still
On the downside Bitcoin has to break below 9160-9150 to
trigger further near term weakness and a potential short back
to the 9064 line where it should bounce once more.
Bitcoin Bitfinex Update 10:29gmt 05:29est
Although it's had a reasonably positive overnight start the
rally has still not reached the next upside target at 9348 on
this feed yet.
Since reaching an overnight high at 9292 Bitcoin has fallen
back some and looks to be cosolidating off the 9183 line.
It cannot be bought again until the dynamic off the overnight
high is broken to the upside in which case can follow long with
stops under the dynamic when broken.
*For updates in real-time please see link, top-left of main page
Comment:
Depending on how active a trader you are, and for those Tv followers who are interested enough in chart patterns and their trade set-ups, here are all yesterday's updates as they happened. (not all Bitcoin, some Eth and Neo too)
Comment:
Sorry, that didn't work - problems uploading. Anyway for those who are interested enough in patterns and are active traders or actively learning about patterns the best way to get real-time updates and to view yesterday's and all other calls is to use the Telegram link at top-left of main page. Be lucky !
Comment:
15:15gmt 10:15est
The next important upside target at 9500 -9560 has been achieved, just - enough already.
For a while - a near term short - sorry too late with this - it's already testing the first line at 9435 - too damn late for this now.
Standing back and waiting but if it breaks below 9430 it should come back to 9348 but not much lower - will look to pick up again there if we see it later
The next important upside target at 9500 -9560 has been achieved, just - enough already.
For a while - a near term short - sorry too late with this - it's already testing the first line at 9435 - too damn late for this now.
Standing back and waiting but if it breaks below 9430 it should come back to 9348 but not much lower - will look to pick up again there if we see it later
Comment:
Bitcoin Futures Chart
Resistance here at 9500-9525 but price action since hitting it has been positive - a small flag forming so afr as it bounces from the upper parallel that's supporting it as it does so. About 300 more points of upside to 9753 on this chart if the flag continues to hold and 9525 is then broken through - and so far that looks likely, just so long as the flag continues to hold.
The move will be similar on the feed you follow so can be traded the same way
Resistance here at 9500-9525 but price action since hitting it has been positive - a small flag forming so afr as it bounces from the upper parallel that's supporting it as it does so. About 300 more points of upside to 9753 on this chart if the flag continues to hold and 9525 is then broken through - and so far that looks likely, just so long as the flag continues to hold.
The move will be similar on the feed you follow so can be traded the same way
Comment:
18:31gmt 13:31est
Raise stop on this long to just under 9600 - can flip back to 9550 before it rallies again - otherwise stops needs to stay under 9500.
This hasn't taken much volume to rip it 4% higher - if we get close to the 9750-9766 target get ready to close out
19:05gmt 14:05est
Bitcoin Old Times !
Bitcoin is right on the line at the upside tagret at 9766 - if you kept long close maybe half. It can go higher - this is relentless!
Or can raise stop to under 9770 and run it
Sorry typo - stop to under 9700
Raise stop on this long to just under 9600 - can flip back to 9550 before it rallies again - otherwise stops needs to stay under 9500.
This hasn't taken much volume to rip it 4% higher - if we get close to the 9750-9766 target get ready to close out
19:05gmt 14:05est
Bitcoin Old Times !
Bitcoin is right on the line at the upside tagret at 9766 - if you kept long close maybe half. It can go higher - this is relentless!
Or can raise stop to under 9770 and run it
Sorry typo - stop to under 9700
Comment:
Bitcoin Bitfinex Update
This should really come back to 9500 now.
And then rally again. But the blood's up and it can overshoot and rip higher still to 9854 and then 10089.
Then comes a big potential jump higher to 11687.
Can buy again at 9643-9620 range with stops below 9620 - if stopped out and it breaks it should come back to the lower dynamic at 9539 and potentially lower still to 9501 where it should rally again if it doesn't from 9539
Bitcoin Bitstamp Chart
4 waves down and now mission critical
Has to hold up here or it fails to 9536 at least and more likely 9501-9450 .
Bitcoin Bitfinex Chart Update
Bitcoin Coinbase Chart Update
Pennant, so far at least...
Bitcoin Futures Chart Update
That little flag on this chart was good as gold.
Bitcoin Futures Closer
Bitcoin Overnight Bitstamp Chart Update
So far Bitcoin is unwinding by making a roughly similar pattern to the one below it but this little continuation pattern it's now making is quite original and will hopefully be helful in determining the next trade or add from here if not already long from around 9640-9600 range.
It can still go either way from here, needing a break above the dynamic from the high to trigger another long with stops underneath the dynamic when it gets broken above (not a momentary spike though, as we've just seen) -
And on the downside it can spend another hour or so rinsing down towards the 9600 level again or it can drop straight down to that level and spike there - but it has to hold on retests to avoid unravelling more to 9540 and potentially to 9500-9450 before it rallies again .
If you prefer updates in real-time please see link at top-left of main page
And if you've found them helpful or interesting please remember to hit the button!
This should really come back to 9500 now.
And then rally again. But the blood's up and it can overshoot and rip higher still to 9854 and then 10089.
Then comes a big potential jump higher to 11687.
Can buy again at 9643-9620 range with stops below 9620 - if stopped out and it breaks it should come back to the lower dynamic at 9539 and potentially lower still to 9501 where it should rally again if it doesn't from 9539
Bitcoin Bitstamp Chart
4 waves down and now mission critical
Has to hold up here or it fails to 9536 at least and more likely 9501-9450 .
Bitcoin Bitfinex Chart Update
Bitcoin Coinbase Chart Update
Pennant, so far at least...
Bitcoin Futures Chart Update
That little flag on this chart was good as gold.
Bitcoin Futures Closer
Bitcoin Overnight Bitstamp Chart Update
So far Bitcoin is unwinding by making a roughly similar pattern to the one below it but this little continuation pattern it's now making is quite original and will hopefully be helful in determining the next trade or add from here if not already long from around 9640-9600 range.
It can still go either way from here, needing a break above the dynamic from the high to trigger another long with stops underneath the dynamic when it gets broken above (not a momentary spike though, as we've just seen) -
And on the downside it can spend another hour or so rinsing down towards the 9600 level again or it can drop straight down to that level and spike there - but it has to hold on retests to avoid unravelling more to 9540 and potentially to 9500-9450 before it rallies again .
If you prefer updates in real-time please see link at top-left of main page
And if you've found them helpful or interesting please remember to hit the button!
Comment:
Beautiful Bitcoin Last Blast
Rest as above (scroll higher)
Bitcoin Bitfinex Chart Update
A bit of a dog's dinner overnight as Bitcoin pushed up to the next line of resistance centred around the 9854 level with a spike high at 9874 at midnight gmt/19:00est. It then lost the first support line at 9766 before falling away to a double bottom low at 9545 and rallying again.
It was meant to stop at 9540 and at 9500 at lowest before it rallied again.
Now it's trying to regain the 9766 line again - nearest stops on remaining longs can be placed under here - otherwise they have to stay under 9650, then the next stop under here at 9540 and at lowest under 9500 for now.
It can whip around looking for stops to nail and go into a larger unwinding pattern as it tries to make a largerpennant/triangle formation over the next few hours - so far we have a loss of upward momentum showing up this morning and it needs buyers here to push above the overnight high. Without that push soon it will begin to unwind more, obviously.
We have a nearterm double bottom and so far a double top too. Conflict between the two levels for dominance and range trading likely inside the triangle in near term as a result.
Am keeping the stop tight and it may well get hit. If so will look to buy lower down again.
Damn Just come off from the 9766 line again so already out of date...
Anyway messing inside the triangle for now. A buy/add on a break above the upper dynamic (needs power and volume too then to beat the overnight high, you know the score by now, chart not heart - if no volume pick-up be careful of a failed break- we do not trade on hope but on signals!)
And on downside it has to break 9650 to flip it back to 9542 and maybe 9500 before it tries to rally again.
If it does start to fail it really needs to hold up at 9542 to keep the range in tact, rather than flipping back to 9500 .
It's evens/neutral right now inside the triangle. Patience needed now - in contrast to yesterday
Bitfinex Bigger
Coinbase Chart Update
Bitcoin Bitstamp Chart Update
Bitcoin Futures Chart Update
Bitcoin Futures Closer
Please hit like button if these upates are helpful to you. Thanks
Rest as above (scroll higher)
Bitcoin Bitfinex Chart Update
A bit of a dog's dinner overnight as Bitcoin pushed up to the next line of resistance centred around the 9854 level with a spike high at 9874 at midnight gmt/19:00est. It then lost the first support line at 9766 before falling away to a double bottom low at 9545 and rallying again.
It was meant to stop at 9540 and at 9500 at lowest before it rallied again.
Now it's trying to regain the 9766 line again - nearest stops on remaining longs can be placed under here - otherwise they have to stay under 9650, then the next stop under here at 9540 and at lowest under 9500 for now.
It can whip around looking for stops to nail and go into a larger unwinding pattern as it tries to make a largerpennant/triangle formation over the next few hours - so far we have a loss of upward momentum showing up this morning and it needs buyers here to push above the overnight high. Without that push soon it will begin to unwind more, obviously.
We have a nearterm double bottom and so far a double top too. Conflict between the two levels for dominance and range trading likely inside the triangle in near term as a result.
Am keeping the stop tight and it may well get hit. If so will look to buy lower down again.
Damn Just come off from the 9766 line again so already out of date...
Anyway messing inside the triangle for now. A buy/add on a break above the upper dynamic (needs power and volume too then to beat the overnight high, you know the score by now, chart not heart - if no volume pick-up be careful of a failed break- we do not trade on hope but on signals!)
And on downside it has to break 9650 to flip it back to 9542 and maybe 9500 before it tries to rally again.
If it does start to fail it really needs to hold up at 9542 to keep the range in tact, rather than flipping back to 9500 .
It's evens/neutral right now inside the triangle. Patience needed now - in contrast to yesterday
Bitfinex Bigger
Coinbase Chart Update
Bitcoin Bitstamp Chart Update
Bitcoin Futures Chart Update
Bitcoin Futures Closer
Please hit like button if these upates are helpful to you. Thanks
Comment:
Recent Updates
Coinbase
Continuation patterns - so far at least
Bitcoin Bitstamp Update
So far still consolidating off the old high on Bitstamp at least.
It's a buy on a break above the uppermost falling parallel with stops below - but it can come back one last time...4th wave ? so subjective, as ever. A line is a line is a line. It is or it isn't. A wave is less certain a lot of the time.
Anyway, it's metaphysics by another name. It come down to evidence for some and dogma for others. Just like any other religion !
Bitcoin Coinbase Update
Different pattern - should be coming off more in near term again - has to bust above 9750 on this chart to get free and run higher again from here - but see the spikes under price down to the 9532 line - what was warning potential shorts about earlier - this thing is still wanted from 9600-9532 but not so much at 9722. So we are stuck in the range still - but at least it's 190 points wide this time. Day traders are playing inside the range - others will have to wait for a break either side still.
This can't go on for ever, though it is beginning to feel that way.
Patience, still, is the name of the day
Bitfinex Chart Update
Coinbase
Continuation patterns - so far at least
Bitcoin Bitstamp Update
So far still consolidating off the old high on Bitstamp at least.
It's a buy on a break above the uppermost falling parallel with stops below - but it can come back one last time...4th wave ? so subjective, as ever. A line is a line is a line. It is or it isn't. A wave is less certain a lot of the time.
Anyway, it's metaphysics by another name. It come down to evidence for some and dogma for others. Just like any other religion !
Bitcoin Coinbase Update
Different pattern - should be coming off more in near term again - has to bust above 9750 on this chart to get free and run higher again from here - but see the spikes under price down to the 9532 line - what was warning potential shorts about earlier - this thing is still wanted from 9600-9532 but not so much at 9722. So we are stuck in the range still - but at least it's 190 points wide this time. Day traders are playing inside the range - others will have to wait for a break either side still.
This can't go on for ever, though it is beginning to feel that way.
Patience, still, is the name of the day
Bitfinex Chart Update
Comment:
Bitcoin Bitfinex Chart Update
We waited patiently all day Friday for the buy signal on the exit of the continuation pattern (recent buy-points, top-most green arrow) which finally arrived at the 9670 level on Bitfinex. Since then Bitcoin has rallied back towards the 9850 line after an overnight high at 9889 before consolidating.
So far the consolidation has taken place inside the the two top-most lines of support/resistance and inside the spike highs of Thursday/Friday and off the small rising dynamic supporting the overnight rally so far. Longs can raise the stop to just under 9760 as if it breaks below here it will likely fall away again to 9584-9544 where it becomes a buy again if tested at any point later today.
On the upside, whilst Bitcoin holds up from the first support at 9772 the overall trend remains positive - we can stay with it until the rising dynamic under price fails or better still, until upside targets are met.
The next upside target is 10089. Bitcoin then has to break above here to really crank up the volume - all the way to 11687 potentially. Let's see what the weekend brings. All we have to do is be ready if it comes our way.
Can also add or buy again once the tiny dynamic from the overnight high is broken to the upside with stops below.
Coinbase Chart Update
Bitstamp Chart Update
We waited patiently all day Friday for the buy signal on the exit of the continuation pattern (recent buy-points, top-most green arrow) which finally arrived at the 9670 level on Bitfinex. Since then Bitcoin has rallied back towards the 9850 line after an overnight high at 9889 before consolidating.
So far the consolidation has taken place inside the the two top-most lines of support/resistance and inside the spike highs of Thursday/Friday and off the small rising dynamic supporting the overnight rally so far. Longs can raise the stop to just under 9760 as if it breaks below here it will likely fall away again to 9584-9544 where it becomes a buy again if tested at any point later today.
On the upside, whilst Bitcoin holds up from the first support at 9772 the overall trend remains positive - we can stay with it until the rising dynamic under price fails or better still, until upside targets are met.
The next upside target is 10089. Bitcoin then has to break above here to really crank up the volume - all the way to 11687 potentially. Let's see what the weekend brings. All we have to do is be ready if it comes our way.
Can also add or buy again once the tiny dynamic from the overnight high is broken to the upside with stops below.
Coinbase Chart Update
Bitstamp Chart Update