Bitcoin: BTCUSD In touching distance now from Parabola
BITCOIN: BTCUSD The Parabola
Price was 7181 nearly 5 hours ago and it's 7169 now, just
managing to hold above the nearest support line at 7150
Bitcoin certainly has turned dead (remember the end of Carrie?) -
but we know it's just pretending. Amazingly the low today put
it within 24 points of the parabola, which is rising at a hell of
a lick and is at 7080 right now, rising by 6 points every hour
now, and becoming ever steeper, as all parabolas must to
remain parabolas...not really getting too excited by it and
have no strong clue whether it will mean anything on a test of
7080, which should happen if/when 7150 gives way...just that
it will be interesting to watch a big parabola in play, just to
see if it's nothing more than a pretty pattern, or as with
dynamic supports and resistance lines, they really are for
real, just invisible to the blind and unitiated.
Price was 7181 nearly 5 hours ago and it's 7169 now, just
managing to hold above the nearest support line at 7150
Bitcoin certainly has turned dead (remember the end of Carrie?) -
but we know it's just pretending. Amazingly the low today put
it within 24 points of the parabola, which is rising at a hell of
a lick and is at 7080 right now, rising by 6 points every hour
now, and becoming ever steeper, as all parabolas must to
remain parabolas...not really getting too excited by it and
have no strong clue whether it will mean anything on a test of
7080, which should happen if/when 7150 gives way...just that
it will be interesting to watch a big parabola in play, just to
see if it's nothing more than a pretty pattern, or as with
dynamic supports and resistance lines, they really are for
real, just invisible to the blind and unitiated.
Trade active:
Upload embargo again
Have been uploading to datafeed....Bitcoin has held up at 7075 right on the parabola to the point and bounced. It's still good whilst it holds up here ...try to buy as close to 7080 as possible now with stop 40 points below
Have been uploading to datafeed....Bitcoin has held up at 7075 right on the parabola to the point and bounced. It's still good whilst it holds up here ...try to buy as close to 7080 as possible now with stop 40 points below
Comment:
As per datafeed, we need to buy low and not chase this...it has to now climb above 7150 and hold up on next sell off....until it does it's still vulnerable to another retest of 7080 so can put an order in at 7090 which could well get hit with stop 40 points below. It's not out of woods yet but it's clinging on so far...if it breaks down please refer to the above comment, it should be worth shorting if it does fail...
Comment:
And for you, Nigel if it doesn't come back to 7090 on the spot for you the best way to get long is once you've seen 7150 hold up on next pull back from above there, with stop still under 7080
Comment:
If long, Can buy more on break above 7160