Bitcoin Sunday Trade Points
Well, the long triggered from 7005 was a bad trade- but the
stop was just under 7000 so at least the loss was small - sorry
for that.
Bitcoin hasn't done much though overnight, staying largely
neutral.
It still looks capable of flipping either way from here so we
need to be prepared for both eventualities.
It has not fallen away overnight, but instead formed new
parallels on all 3 charts.
On upside has to break above 7010 to trigger a long with stops
60 or more lower .
And on downside Bitcoin has to break the lower parallel to
start falling away harder from here - then has to break below
6890 to trigger a short with stops above 6935.
But until we see either eventuality Bitcoin is overall
neutral so far Sunday.
Well, the long triggered from 7005 was a bad trade- but the
stop was just under 7000 so at least the loss was small - sorry
for that.
Bitcoin hasn't done much though overnight, staying largely
neutral.
It still looks capable of flipping either way from here so we
need to be prepared for both eventualities.
It has not fallen away overnight, but instead formed new
parallels on all 3 charts.
On upside has to break above 7010 to trigger a long with stops
60 or more lower .
And on downside Bitcoin has to break the lower parallel to
start falling away harder from here - then has to break below
6890 to trigger a short with stops above 6935.
But until we see either eventuality Bitcoin is overall
neutral so far Sunday.
Comment:
Bitcoin Catch Up and Trades so far today.
Bitcoin Slow Sunday
Despite the low volumes/lack of interest and the false break higher leaving a spike above 7010 Bitcoin is now in a continuation pattern and does not look particularly negative so long as the lower rising parallel continues to hold up from here.
Can spend some time moving slowly down the small channel it's now trapped within and will require some patience to stay with it for now...
The last 3 out 4 Sundays we've seen whale attacks to the upside. The first one in that sequence was at 12.45gmt, in 20 minutes' time.
Probably a little too obvious to be repeated but Sundays seem to be a favored day for whales to play so we need to keep a watch...
Still more positive than negative and grinding higher rather pulsing - still a buy dips market so far until the lower rising parallel is broken to downside.
Sorry, this was written a while ago and not posted correctly.
It's going OK and should push higher during the course of the day- look to buy dips back to 7009-7000
Bitfinex Update
Not much point in chasing this but it's still a buy dips market at moement until the lower parallel is broken
Bitcoin Oh Boy
well if I had posted the last update it would have been more helpful.
Busy with correspondence for new website.
Am so pleased that Phil from Pro Indicators has just agreed to join Saladin and I in the new venture (Tv minimal, hopefully Tv Gold) - now looking for TA's 4 and 5 to complete the team. Who should they be? Looking for the best of the best.
Do you have a suggestion?
If so please visit the Chart-Attack Webroom on Telegram to drop your suggestion.
Bitcoin Coinbase Update
Today it looks like Coinbase chart is cleanest so far.
It's rallied here to just below the next line at 7107 after an intraday high at 7099.99.
Now, after 15 minutes of action we face another dull period of downwards consolidating action back to 7030-7000 and the lower parallel .
Each pulse higher is smaller in scale - and the minimum upside target here on Coinbase at at 7100 has been all but hit.
It really will take a whale attack to take this higher now.
A break above 7105 is needed here to trigger another long up to 7275 line.
On downside Bitcoin has to hold up off that lower parallel to stay in with a chance of a 4th and likely last pulse higher from here.
At some point quite soon though this line will break, triggering a short when it does with stops above the same line when eventually broken.
Not around too much today, trying to assemble website personnel - catch you later
Live Coinbase Feed
www.tradingview.com/chart/RTVNhZ31/
Bitcoin Chart Updates
Bitfinex
Bitstamp
Coinbase
Bitcoin Update
If you bought the dip back to 7030-7000 range please raise the stop or close out for now- this is so lame so far and likely to come back again
Raise stop to just below 7050 if running this
Drop stop on this short to just above 6950 at lowest - or leave at just above the break level at 7010 at highest for break even
Sorry - it hadn't even reached 6950 then ! Cannot really explain that one either.
Anyway can either drop stop to 20 or so above price ot leave just above 7011 for rough break even - should fall to 6927 ideally and then bounce a little
Should rally to 7010 on Bitstamp and come off again
https://www.tradingview....
For real-time updates see top-left of main page
Bitcoin Slow Sunday
Despite the low volumes/lack of interest and the false break higher leaving a spike above 7010 Bitcoin is now in a continuation pattern and does not look particularly negative so long as the lower rising parallel continues to hold up from here.
Can spend some time moving slowly down the small channel it's now trapped within and will require some patience to stay with it for now...
The last 3 out 4 Sundays we've seen whale attacks to the upside. The first one in that sequence was at 12.45gmt, in 20 minutes' time.
Probably a little too obvious to be repeated but Sundays seem to be a favored day for whales to play so we need to keep a watch...
Still more positive than negative and grinding higher rather pulsing - still a buy dips market so far until the lower rising parallel is broken to downside.
Sorry, this was written a while ago and not posted correctly.
It's going OK and should push higher during the course of the day- look to buy dips back to 7009-7000
Bitfinex Update
Not much point in chasing this but it's still a buy dips market at moement until the lower parallel is broken
Bitcoin Oh Boy
well if I had posted the last update it would have been more helpful.
Busy with correspondence for new website.
Am so pleased that Phil from Pro Indicators has just agreed to join Saladin and I in the new venture (Tv minimal, hopefully Tv Gold) - now looking for TA's 4 and 5 to complete the team. Who should they be? Looking for the best of the best.
Do you have a suggestion?
If so please visit the Chart-Attack Webroom on Telegram to drop your suggestion.
Bitcoin Coinbase Update
Today it looks like Coinbase chart is cleanest so far.
It's rallied here to just below the next line at 7107 after an intraday high at 7099.99.
Now, after 15 minutes of action we face another dull period of downwards consolidating action back to 7030-7000 and the lower parallel .
Each pulse higher is smaller in scale - and the minimum upside target here on Coinbase at at 7100 has been all but hit.
It really will take a whale attack to take this higher now.
A break above 7105 is needed here to trigger another long up to 7275 line.
On downside Bitcoin has to hold up off that lower parallel to stay in with a chance of a 4th and likely last pulse higher from here.
At some point quite soon though this line will break, triggering a short when it does with stops above the same line when eventually broken.
Not around too much today, trying to assemble website personnel - catch you later
Live Coinbase Feed
www.tradingview.com/chart/RTVNhZ31/
Bitcoin Chart Updates
Bitfinex
Bitstamp
Coinbase
Bitcoin Update
If you bought the dip back to 7030-7000 range please raise the stop or close out for now- this is so lame so far and likely to come back again
Raise stop to just below 7050 if running this
Drop stop on this short to just above 6950 at lowest - or leave at just above the break level at 7010 at highest for break even
Sorry - it hadn't even reached 6950 then ! Cannot really explain that one either.
Anyway can either drop stop to 20 or so above price ot leave just above 7011 for rough break even - should fall to 6927 ideally and then bounce a little
Should rally to 7010 on Bitstamp and come off again
https://www.tradingview....
For real-time updates see top-left of main page
Comment:
Bitcoin Update 09:34gmt 05:34est Monday
Apologies for poor call on the last short last night. Really thought it was going to start falling away once it lost the lower parallel - but it didn't, making a little double bottom at 6955 line beofre moving higher still.
Bad timing at about 22:00gmt - should have stayed with it longer but after 14 hours chasing it around gave up the fight about 30 minutes too early. Sorry for that.
More annoying still, it actually made a nice little continuation pattern between 20:00 and 22:00 gmt which gave a sweet entry long on exit - missed it. Not good.
Overnight Bitcoin has pushed up higher, loosely tracking the underside of the old parallel but still finding support from the dynamic underpinning the rally.
To add to the near term conflict there's a dynamic resistance line forming above price which is capping rally attempts.
We are in a difficult spot.
It should come off but it cannot be shorted from here unless it breaks lower than 7100-7080 range.
Bitcoin Coinbase Chart Update
Bitcoin
Now THAT's a break
Close out half
Bitcoin
Do you remember that whales wanted to see it higher- so they could 'smack it again from higher upcome Monday' ?
Keep dropping the stop on remaining shorts to 20 or so above price- will snap back hard when it bottoms
Wow. So one 15 minute candle bull engulfed pretty much the ENTIRE weekend
MOFO's
A retest of the low now...
Next short on a fall below 6760 line - be careful with it and trail stop above price by not much more that 20
Bang on the line- a brave buy with stops under 6760- too late
To the dollar here...mofo mofo mofo
Well someone bought it here at 6760, for sure. If it was you, well done - raise the stop under it though to trap in a few points - or alternatively leave stop at 6750 for now and no lower, ready to reverse short back to 6644-6600 range where it should bounce again if 6760 fails to hold up from here
For Bitcoin updates in real-time please see link at top-left of main page
Apologies for poor call on the last short last night. Really thought it was going to start falling away once it lost the lower parallel - but it didn't, making a little double bottom at 6955 line beofre moving higher still.
Bad timing at about 22:00gmt - should have stayed with it longer but after 14 hours chasing it around gave up the fight about 30 minutes too early. Sorry for that.
More annoying still, it actually made a nice little continuation pattern between 20:00 and 22:00 gmt which gave a sweet entry long on exit - missed it. Not good.
Overnight Bitcoin has pushed up higher, loosely tracking the underside of the old parallel but still finding support from the dynamic underpinning the rally.
To add to the near term conflict there's a dynamic resistance line forming above price which is capping rally attempts.
We are in a difficult spot.
It should come off but it cannot be shorted from here unless it breaks lower than 7100-7080 range.
Bitcoin Coinbase Chart Update
Bitcoin
Now THAT's a break
Close out half
Bitcoin
Do you remember that whales wanted to see it higher- so they could 'smack it again from higher upcome Monday' ?
Keep dropping the stop on remaining shorts to 20 or so above price- will snap back hard when it bottoms
Wow. So one 15 minute candle bull engulfed pretty much the ENTIRE weekend
MOFO's
A retest of the low now...
Next short on a fall below 6760 line - be careful with it and trail stop above price by not much more that 20
Bang on the line- a brave buy with stops under 6760- too late
To the dollar here...mofo mofo mofo
Well someone bought it here at 6760, for sure. If it was you, well done - raise the stop under it though to trap in a few points - or alternatively leave stop at 6750 for now and no lower, ready to reverse short back to 6644-6600 range where it should bounce again if 6760 fails to hold up from here
For Bitcoin updates in real-time please see link at top-left of main page
Comment:
Bitcoin Update
Comment:
Bitcoin Update Bitfinex
Bitcoin has pushed higher - the short here from 6740 has failed and lost 10 or so points. Bad call.
if the rally is to fail it should be from here, though, at 6785 level - may take time - that was a good little stop hunt we just saw - now it should fall away again.
It has to break above 6785-6800 range here to flip back to positive again and to follow long with stop below 6750.
Bitcoin has pushed higher - the short here from 6740 has failed and lost 10 or so points. Bad call.
if the rally is to fail it should be from here, though, at 6785 level - may take time - that was a good little stop hunt we just saw - now it should fall away again.
It has to break above 6785-6800 range here to flip back to positive again and to follow long with stop below 6750.
Comment:
Updated Bitstamp Chart
Comment:
Bitcoin Bitfinex Update
The low on Bitfinex is 6671 - not too far from the 6660 line and it's putting up a fight here for sure. And if ain't going to fall away from here it has one other thing left to do ...It's certainly trying to put in a bottom here. After 4 larger wave
Too early to say yet though, but need to be ready for it -
If short can use the 6752 level as final stop and be ready flip long only once 6754 is broken looking for 6778-8785 range initially and either close out there or half maybe - only get aggressively long on a break above 6785.
Same for swing longs too.
Initial support 6700 -
If it's to come off it should be from here...
so this level is key to near term
Bitcoin Bitstamp Chart Update
Bitstamp Feed Update
A break above 6770 is needed here to trigger longs with stops 40 or more lower - minor resistance at 6791 which could flip it back to 6760 to start with but it should hold there on retest if the rally is to be trusted.
It's trying hard still not to give way but the bears are still in control here until 6760 line and just above can be regained and held by the bulls in this argument
For Bitcoin updates in real-time please check top-left of main page
The low on Bitfinex is 6671 - not too far from the 6660 line and it's putting up a fight here for sure. And if ain't going to fall away from here it has one other thing left to do ...It's certainly trying to put in a bottom here. After 4 larger wave
Too early to say yet though, but need to be ready for it -
If short can use the 6752 level as final stop and be ready flip long only once 6754 is broken looking for 6778-8785 range initially and either close out there or half maybe - only get aggressively long on a break above 6785.
Same for swing longs too.
Initial support 6700 -
If it's to come off it should be from here...
so this level is key to near term
Bitcoin Bitstamp Chart Update
Bitstamp Feed Update
A break above 6770 is needed here to trigger longs with stops 40 or more lower - minor resistance at 6791 which could flip it back to 6760 to start with but it should hold there on retest if the rally is to be trusted.
It's trying hard still not to give way but the bears are still in control here until 6760 line and just above can be regained and held by the bulls in this argument
For Bitcoin updates in real-time please check top-left of main page
Comment:
Bitcoin Coinbase Update. Getting interesting again
Coinbase Update
An annoying flag forming on Coinbase - can spend some time inside it mashing heads in - but it should dump again sooner or later back to 6500.
Gotta be careful at this level if it does come back lower as expected. If looking for a long here as many will be care to see that it holds here (or can put an order in at 6520 with a stop 35 or more lower and it may get hit and may not, and same with the stop too. Unfortunately.
Otherwise gotta wait and watch if it comes that low - to 5620-5600 range and if it starts to hold and fight as it should if it to turn around then look to buy dips back towards 6520-6500 as it does so with stops 10 or more below 6500 level.
Final/last-gasp support here lies at 6452.
If that level gives way at any point tonight we have short once more with stops above 6520. The next support below here/downside target is 5879, then 5130.
A series of shorting opportunities, potentially. A forewarned is forearmed situation tonight.
Coinbase Update
An annoying flag forming on Coinbase - can spend some time inside it mashing heads in - but it should dump again sooner or later back to 6500.
Gotta be careful at this level if it does come back lower as expected. If looking for a long here as many will be care to see that it holds here (or can put an order in at 6520 with a stop 35 or more lower and it may get hit and may not, and same with the stop too. Unfortunately.
Otherwise gotta wait and watch if it comes that low - to 5620-5600 range and if it starts to hold and fight as it should if it to turn around then look to buy dips back towards 6520-6500 as it does so with stops 10 or more below 6500 level.
Final/last-gasp support here lies at 6452.
If that level gives way at any point tonight we have short once more with stops above 6520. The next support below here/downside target is 5879, then 5130.
A series of shorting opportunities, potentially. A forewarned is forearmed situation tonight.
Comment:
Opportunities Knocking for Experienced traders
Coinbase Bigger Picture
it should dump again sooner or later back to 6500.
Gotta be careful at this level if it does come back lower as expected. If looking for a long here as many will be care to see that it holds here (or can put an order in at 6520 with a stop 35 or more lower and it may get hit and may not, and same with the stop too. Unfortunately.
Otherwise gotta wait and watch if it comes that low - to 5620-5600 range and if it starts to hold and fight as it should if it's to turn around there, then look to buy dips back towards 6520-6500 as it does so with stops 10 or more below 6500 level.
Final/last-gasp support here lies at 6452.
If that level gives way at any point tonight we have to short once more with stops above 6520. The next support below here/downside target is 5879, then 5130.
A series of shorting opportunities, potentially. A forewarned is forearmed situation tonight.
If you find these updates interesting or helpful please hit that button. Thanks
Coinbase Bigger Picture
it should dump again sooner or later back to 6500.
Gotta be careful at this level if it does come back lower as expected. If looking for a long here as many will be care to see that it holds here (or can put an order in at 6520 with a stop 35 or more lower and it may get hit and may not, and same with the stop too. Unfortunately.
Otherwise gotta wait and watch if it comes that low - to 5620-5600 range and if it starts to hold and fight as it should if it's to turn around there, then look to buy dips back towards 6520-6500 as it does so with stops 10 or more below 6500 level.
Final/last-gasp support here lies at 6452.
If that level gives way at any point tonight we have to short once more with stops above 6520. The next support below here/downside target is 5879, then 5130.
A series of shorting opportunities, potentially. A forewarned is forearmed situation tonight.
If you find these updates interesting or helpful please hit that button. Thanks
Comment:
Bitcoin Coinbase
That should be limit of upside now
That should be limit of upside now
Comment:
Bitcoin Updates Today
Coinbase Update 16:06gmt/11:06est
21:06gmt/16:06est
Bitcoin is still stuck within a larger continuation pattern it's been cranking out since the lows 24 hours ago.
For day traders it's a sell off the upper parallel of the smaller continuation pattern it's now travelling down and a buy off lower parallel. It should continue on a downward bias and how it behaves at 6796-6771 range will help to tell us if Bitcoin is going to rip higher from here and leave the structure hammered out over the last 24 hours of price action behind - because if not the liklihood increases that the lower rising parallel will not only be retested but eventually will break to the downside. And if it does the fall should be worth shorting from there with stops above the same line once broken below, targeting 6520-6452 range.
Final/last-gasp support here lies at 6452.
If that level gives way by over 10 points at any stage it's a short once more with stops above 6520. The next support below here/downside target is 5879, then 5130.
However, whilst it travels down the smaller parallels and manages to continue to hold within them as it does so, it will sooner or later break the upper parallel on the upside - if that break higher comes sooner rather than later it can be followed long once 6850 is broken above with stops 40 or more lower, looking for 7150.
And if not, this decline may grind on to 23:30gmt/18:30 est or longer still (the last continuation pattern lasted four and a half hours). But so long as it holds the parallels as it does it Bitcoin can be bought on exit of the upper parallel with stops below it.
The smaller parallels may need shifting a little later depending on how this pattern plays out but so far it looks good on Coinbase.
Coinbase Bigger Shot
Bitstamp Chart Update
Bitfinex Crossed lines
Pattern less well defined on Bitfinex today. Two sets of competing parallels.
Coinbase wins the beauty contest today
Coinbase Update 16:06gmt/11:06est
21:06gmt/16:06est
Bitcoin is still stuck within a larger continuation pattern it's been cranking out since the lows 24 hours ago.
For day traders it's a sell off the upper parallel of the smaller continuation pattern it's now travelling down and a buy off lower parallel. It should continue on a downward bias and how it behaves at 6796-6771 range will help to tell us if Bitcoin is going to rip higher from here and leave the structure hammered out over the last 24 hours of price action behind - because if not the liklihood increases that the lower rising parallel will not only be retested but eventually will break to the downside. And if it does the fall should be worth shorting from there with stops above the same line once broken below, targeting 6520-6452 range.
Final/last-gasp support here lies at 6452.
If that level gives way by over 10 points at any stage it's a short once more with stops above 6520. The next support below here/downside target is 5879, then 5130.
However, whilst it travels down the smaller parallels and manages to continue to hold within them as it does so, it will sooner or later break the upper parallel on the upside - if that break higher comes sooner rather than later it can be followed long once 6850 is broken above with stops 40 or more lower, looking for 7150.
And if not, this decline may grind on to 23:30gmt/18:30 est or longer still (the last continuation pattern lasted four and a half hours). But so long as it holds the parallels as it does it Bitcoin can be bought on exit of the upper parallel with stops below it.
The smaller parallels may need shifting a little later depending on how this pattern plays out but so far it looks good on Coinbase.
Coinbase Bigger Shot
Bitstamp Chart Update
Bitfinex Crossed lines
Pattern less well defined on Bitfinex today. Two sets of competing parallels.
Coinbase wins the beauty contest today
A poor volume break with a spike forming on 15 minute chart- am closing out around 7000, just under.
Just doesn't feel right.