sumastardon
Long

BTCUSD Key Levels for Longs Today

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin Coinbase Update 12:52gmt 07:52est
Although it's rallied above the 8768 line and held the the little
retest the rally from there has been very lame so far.
Looks to be waiting for more buyers going into US open. They
need to be there or this long shot will get stopped ...raising
stop to 8810 as if it gets hit it will come back to the 8768 line
again most probably. If so will look to buy again around there
if stopped out at 8809.
It will need some volume to arrive soon along with
buying interest for this long to stay good from here.


Bitcoin Update Coinbase 10:53gmt 05:53est
Since making a high at 9763 and missing the upside target by
fully 100 points - sorry for that, missed it by a country mile -
Bitcoin has lost nearly 1200 points and is now resting on the
lower parallel. But there is little interest showing right now,
even at these lower levels.
A safer potential long lies not far above here and it looks
prudent to wait for better confirmation than we have right
now as this continued lack of interest is making a long from
here just too risky.
It has to break back above the dynamic from the recent high
to attract any more buyers.
It's a safer buy/add only once it can achieve this, needing to
break and hold above the 8768 line as it does so with stops
below 8750 when broken above.
Small spikes above and below price on the 15 minute chart
shows the indecision here at the 8700 level
On the downside Bitcoin has to break below 8600 to trigger
further weakness/short back to 7760 and 7584 .



Comment: Updates so far today - for updates in real time please see link at top-left, main page

Bitcoin Coinbase Update
Although it's rallied above the 8768 line and held the the little retest the rally from there has been very lame so far.
Looks to be waiting for more buyers going into US open. They need to be there or this long shot will get stopped ...raising stop to 8810 as if it gets hit it will come back to the 8768 line again most probably. If so will look to buy again around there if stopped out at 8809.
This thing will need some volume to arrive soon along with buying interest for this long to stay good from here.


Bitcoin Coinbase
Such hard work again - this pattern it's making now does at least look like continuation but it can still come back to the 8660 line potentially - so am reluctantly raising stop on long to 8794 as it's still not attracting buyers here.


Bitcoin Coinbase Update
Still no real buying interest. If you bought any of the dips back to the 8768n line close out now for 100 or so profit


Updated chart
Or can raise stop to just under 8860


Bitcoin Bitstamp Chart Update
Three continuation patterns over the course of the day have sent most to sleep - but we have a break out - first resistance at 9011 line then 9175-9224.


Coinbase Update
Sorry for timing of last update - it started to break just as was writing and happenend too quick to get in from the start - 2 minutes out. After a day of waiting .
If you followed long once 9011 was broken raise stop to 9062 - will maybe will get hit but want to protect profit as it can come back to 9011 and lower still potentially .

If so will look to buy back again from lower .





Raise stop again to 9090 - spikes all over
for me it looks like a bear pennant?
+1 Reply
Thx)
Reply
A pleasure as always Peter!
+1 Reply
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