BTGUSD
Worth waiting for: now coming into the first suport zone at 274-261. Put anorder in at 263 with stop about 10 points
lower. Or at 270 but think it should spike down to 261 - that entire 13 point zone is full of whipsaw and pin bars, even to
10 points lower, so the stop needs to be at least 249.It should get a bounce to 319-330 area.
And plan B in febrile markets: If 261 gives way this is coming all the way back to the twin dynamics shown on the chart at
least and potentially to 157-150 major support. If this happens it becomes a short again with stops above 274.
Then will have to see how it behaves at the parallels, may bounce and then fail. Excellent, it means a retest of the lows,
easier to hit it at 157-150, if we happen to see it. Remember anything can can happen. It's way wilder than the wildest the
West ever was. We just hit buttons instead of triggers. And way faster too! Say that one quickly.
Worth waiting for: now coming into the first suport zone at 274-261. Put anorder in at 263 with stop about 10 points
lower. Or at 270 but think it should spike down to 261 - that entire 13 point zone is full of whipsaw and pin bars, even to
10 points lower, so the stop needs to be at least 249.It should get a bounce to 319-330 area.
And plan B in febrile markets: If 261 gives way this is coming all the way back to the twin dynamics shown on the chart at
least and potentially to 157-150 major support. If this happens it becomes a short again with stops above 274.
Then will have to see how it behaves at the parallels, may bounce and then fail. Excellent, it means a retest of the lows,
easier to hit it at 157-150, if we happen to see it. Remember anything can can happen. It's way wilder than the wildest the
West ever was. We just hit buttons instead of triggers. And way faster too! Say that one quickly.
Comment:
BTGUSD Update Trading Idea
That was a nice 5 to 8% profit, swiftly taken at the right spot.
Now it's back to 272 and is waiting on Bitcoin, for Chinese
market to open. It's a speccy buy here (because Bitcoin hasn't
decided yet, see comment) but with a tight stop at 270 for
small loss if wrong. And if Bitcooin breaks out of it's
downtrend BTG should rally fast to 306 and spike into the
upper parallel 310...if we see this take 38 profit and if we
don't take 2 loss...and be reay to short as per earlier
comment below. Like this thing from a technical and trading
viewpoint, so far...way less spikey and spivvy than Eth or
Dash, which spit volatility off the chart at you.
Each to his own, though, is what makes markets markets.
That was a nice 5 to 8% profit, swiftly taken at the right spot.
Now it's back to 272 and is waiting on Bitcoin, for Chinese
market to open. It's a speccy buy here (because Bitcoin hasn't
decided yet, see comment) but with a tight stop at 270 for
small loss if wrong. And if Bitcooin breaks out of it's
downtrend BTG should rally fast to 306 and spike into the
upper parallel 310...if we see this take 38 profit and if we
don't take 2 loss...and be reay to short as per earlier
comment below. Like this thing from a technical and trading
viewpoint, so far...way less spikey and spivvy than Eth or
Dash, which spit volatility off the chart at you.
Each to his own, though, is what makes markets markets.
Longs from 263 entry price can look to take profits
soon...from 278 and up to 286 if very lucky...thensee how it
reacts...does it make a double bottom at 261 ideally for bulls
and at 253 at lowest? It needs to to stay good from here.
But if 253 gives way at any point it should come apart in
stages to 215, 199 and then to the longer term dynamic. Look
to buy here if tested and it holds up there with stops
underneath by 3 or so points and if this were to fail look to
buy again at 156-151 range with stops under 149. We may
never see this if Bitcoin cam escape its downtrend, (see
Bitcoin charts) - that would release the stranglehold here and
take BTG back above 288...if so get long once more for a good
relief rally to 320 an likely higher still. FYI Bitcoin needs to
get above 9900 and hold to escape it's downtrend