Bitcoin (BTCUSD): New ATH Is In Sight

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Previously, we opened a short position @8170, which was supported by a bearish triangle breakout:
The price dropped 3.6% and reversed @7890 support. Depending on timing, some traders took a profit or closed out @breakeven. We now have to adjust to market conditions and get ready to go long BTC for new ATH .
Comment: Position reversal/stop-loss criteria:
Comment: Ok, we're good.
Watch for key levels on the chart.
Comment: 9000 is fine to take profit on this trade:
Trade closed manually: 9300.
The market is raging, and I want to share with you a valuable trading tip. If you want to maximize profit during such strong trending moves, think about applying Parabolic SAR indicator as your trailing stop loss level. That is, you adjust your stop order manually every hour according to this indy. Works great.
Сигнальный сервис Nix BitMEX. Пробный доступ для рефералов:
Thanks for the great indicator!!
What settings of SAR do you use ?
@jimicze, these are standard settings.
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Nice, also the parabolic sar proposal .. what will you expect ? uptrend on downtrend .. ? what will be good entry ?
@jimicze uptrend is intact until there is a secure reversal pattern. I'll keep you informed when such pattern occurs.
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jimicze Nickonomics
@Nickonomics, perfect ! thx a lot
Good call Nick... although i missed the trade, was away for a while.
thanks for your contribution.
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now bitcoin will decrease? growth in this year ended?
Very good call!
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There is some issues with your waveanalaysis, but ignoring that, I believe that we are currently hovering at the top of the channel that has held since the beginning of the year.

If we are indeed consolidating here to break that ceiling, I believe the next move up would trigger a pretty huge rally - perhaps a final bit of euphoria leading up to CME release. We have been hovering here for 4-5 days now. That's an insanely long amount of time for BTC to be at such low volatility. I think that if we move up, it will be something for those who are short to remember for the rest of their lives.
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