Bitcoin BTCUSD Still Long, Still Strong
So, for the first time in a while no selling pressure into 01:00est/06:00gmt. Was looking for a test of the upper parallel on Bitstamp which was scheduled for overnight or into today at 10900 and which still looks on the cards so far for later - once agin the direction of the callis OK but the stop left something to be desired - wanted it under 10400 as it could come back to 10200 - and in the event it came down as low as 10146 in the first hour of far East opening around 02:00 gmt. So again, without using a 50 point wider stop than the stated level a good call turned useless. Ironically if following the Tv updates you'd be long and strong. Just hope you guys are anyway but another graphic example of a head shot that kills the guy standing next to the target. You have to calibrate your own rifle to compensate for this. The rifle is quite good. It's the sights need calibrating .
Anyway, a buy burst at 07:45 has won the patient another 300 to 400 points so far today - Bitcoin is now perched on the blue line at 10666 and unwinding the burst higher - has to hold up here to avoid going into a bigger and longer lasting continuation pattern, falling back to 10522 line and potentially back to the newly forming dynamic underpinning the rally so far from the secondary low at 9373.
It's another buy if we see this later.
Looks to be more updise still, to 10886 line and into the upper parallel on Bitstamp feed 10980 where it's likely to encounter problems again.
Last night was suggesting we short from the upper parallel when/if touched today...let's see how it behaves when it gets there first..
Some people are having problems finding the correct link to fastest updates - it's been updated - please check top-left of main page if an active trader and you prefer all updates asap.
Yesterday's Updates 12:18est Update
The Deep
A failed break but the sharks can't get their teeth into much
whilst the bait-ball is saying within the safety of the parallels
- and when it pokes above the upper parallel will return to
the deep and leave the ball in tact to rise higher - the sharks
will return though if they see the ball forced down below
10098 - and then the whales who are slower to reach the
commotion - and try to eat every last sardine in the ball
Life in the ocean is much the same as trading Bitcoin
sometimes.
19:05gmt/14:05est
Bitcoin is trying to break the upper parallel now and is a buy
once 10235 is broken above on the next dip with stops about
120 lower - need to see some green now to know the break is
good
So, for the first time in a while no selling pressure into 01:00est/06:00gmt. Was looking for a test of the upper parallel on Bitstamp which was scheduled for overnight or into today at 10900 and which still looks on the cards so far for later - once agin the direction of the callis OK but the stop left something to be desired - wanted it under 10400 as it could come back to 10200 - and in the event it came down as low as 10146 in the first hour of far East opening around 02:00 gmt. So again, without using a 50 point wider stop than the stated level a good call turned useless. Ironically if following the Tv updates you'd be long and strong. Just hope you guys are anyway but another graphic example of a head shot that kills the guy standing next to the target. You have to calibrate your own rifle to compensate for this. The rifle is quite good. It's the sights need calibrating .
Anyway, a buy burst at 07:45 has won the patient another 300 to 400 points so far today - Bitcoin is now perched on the blue line at 10666 and unwinding the burst higher - has to hold up here to avoid going into a bigger and longer lasting continuation pattern, falling back to 10522 line and potentially back to the newly forming dynamic underpinning the rally so far from the secondary low at 9373.
It's another buy if we see this later.
Looks to be more updise still, to 10886 line and into the upper parallel on Bitstamp feed 10980 where it's likely to encounter problems again.
Last night was suggesting we short from the upper parallel when/if touched today...let's see how it behaves when it gets there first..
Some people are having problems finding the correct link to fastest updates - it's been updated - please check top-left of main page if an active trader and you prefer all updates asap.
Yesterday's Updates 12:18est Update
The Deep
A failed break but the sharks can't get their teeth into much
whilst the bait-ball is saying within the safety of the parallels
- and when it pokes above the upper parallel will return to
the deep and leave the ball in tact to rise higher - the sharks
will return though if they see the ball forced down below
10098 - and then the whales who are slower to reach the
commotion - and try to eat every last sardine in the ball
Life in the ocean is much the same as trading Bitcoin
sometimes.
19:05gmt/14:05est
Bitcoin is trying to break the upper parallel now and is a buy
once 10235 is broken above on the next dip with stops about
120 lower - need to see some green now to know the break is
good