Bitcoin Update Key Levels from Here
Stopped out of longs at 7700. Bought aagain at 7680 with 50 point stop early in London. Lucky you if still in bed!
We should be long again from 7570 now as per last comment, and stops can placed under low today (7530) by 30 points,
so 7500. And for day-traders and those wishing to run tighter stops, 7717 is still the line in the sand, the freeezer lid.
Whilst 7717 holds up all is good for Bitcoin bulls. So stops can be placed just under here, at 7700 - because if it should fail
it's likely to retest 7530, bounce and then move sideways for a while. And, just in case, it's worth noting that 7530 is last
gasp support now for the bull case, so it that has to hold up at lowest on any retests from here - but that can't happen whilst
7717 holds. That's Good. The freezer lid.
There are 2 changes to the chart for the first time in 2 weeeks since the previous high, so the support line that was
at 7570 has been lowered by 40 points or so and the lower large parallel (and therefore the upper ones too) has been
adjusted too. The parallel is still not as perfect as it should be but refuse to try to force some pareidolic fit, so it just can't
be completely trusted - but it's the best clue we have that the force of this upwave is still good.
It's interesting that the 8000 level has been struck - that was Goldman's predicted next high - hats off to Jafari there - day
traders will likely llok to book profits here once more bagging a quick 400 points from 7570 entry. So we should get some
sideways movement... but whilst 7717 holds this can start to be viewed as a long term hold.
Stopped out of longs at 7700. Bought aagain at 7680 with 50 point stop early in London. Lucky you if still in bed!
We should be long again from 7570 now as per last comment, and stops can placed under low today (7530) by 30 points,
so 7500. And for day-traders and those wishing to run tighter stops, 7717 is still the line in the sand, the freeezer lid.
Whilst 7717 holds up all is good for Bitcoin bulls. So stops can be placed just under here, at 7700 - because if it should fail
it's likely to retest 7530, bounce and then move sideways for a while. And, just in case, it's worth noting that 7530 is last
gasp support now for the bull case, so it that has to hold up at lowest on any retests from here - but that can't happen whilst
7717 holds. That's Good. The freezer lid.
There are 2 changes to the chart for the first time in 2 weeeks since the previous high, so the support line that was
at 7570 has been lowered by 40 points or so and the lower large parallel (and therefore the upper ones too) has been
adjusted too. The parallel is still not as perfect as it should be but refuse to try to force some pareidolic fit, so it just can't
be completely trusted - but it's the best clue we have that the force of this upwave is still good.
It's interesting that the 8000 level has been struck - that was Goldman's predicted next high - hats off to Jafari there - day
traders will likely llok to book profits here once more bagging a quick 400 points from 7570 entry. So we should get some
sideways movement... but whilst 7717 holds this can start to be viewed as a long term hold.
Trade active:
Bitcoin Update Embargo On
There's a big battle for the old high raging at 7870-7890 with
near term support newly created at 7800 by day-trading bulls,
(raise stops to just under 7800 depending on profile, or to just
under 7700 for rest)
There's a big battle for the old high raging at 7870-7890 with
near term support newly created at 7800 by day-trading bulls,
(raise stops to just under 7800 depending on profile, or to just
under 7700 for rest)
Comment:
Stops under 7660 (above was too vague)