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Bitcoin BTCUSD Happy Bitmas to You and YoursBitcoin BTCUSD. Christmas Day What kind of sad tw@t would be writing on Bitcoin today? Hi there. So how's Bitcoin behaving over Christmas? It rallies all morning in Europe and then at 12.45 GMT as everyone goes to lunch and buyers dry up it falls 1200 points to the lower line of what is now a developing continuation pattern, and, as usual tracking parallels. Jeez. If we'd known that was going to happen that could've paid for lunch a few times over. Maybe next year now we know... So Bitcoin swings across the globe into the hands of the USA for a few hours - who don't look too interested either way, but Bitcoin does top out at 1.30 EST - do you guys eat a little later than UK on Christmas day ? Anyway, now I figure most will have finished, as Bitcoin has started to rally again....so next Christmas day maybe we have an idea of how this behaves...no one around and it goes down. Amazing. Who'd have thought? Looks like it will grind higher but still be subject to fairly sharp drops - just don't want to be buying this high and then getting whipped out in zero volume conditions - so can only think of buying if the lower parallel is tested with a stop 50 or so under the line - but when Bitcoin skips across the Pacific to land in the far East volume should start to rise, and they are more likely to be buyers than sellers...but the chart will confirm - or deny - this for us...can get pushed up to 14648 but not likely to get much further without Eastern buyers and some volume...if you see this some time around the open or within an hour at most and 14648 is broken through it can be followed for 800 points or so up to 15509. It should come off again from here, if not from 15814 later on though. On downside there is near term minor support here, at 13982 with stronger support at 13717-13679, where the lower parallel lies now - Bitcoin must hold up off this line on all retests to avoid falling back into negative territory, most likely driving price back to the left hand structure that began this move at 12617 -12500 with smaller counter rallies most likely off the blue support lines at 13456 and 13086. Any break below 12500 would trigger another good short back to 11391-11165 range.
BITSTAMP:BTCUSD
by sumastardon
3
Golden Cashening Watch BTG BCH BTCTHIS IS NOT TRADING ADVICE THIS IS NOT INVESTMENT ADVICE DO YOUR OWN DUE DILIGENCE FOR EVERY TRADE AND INVESTMENT YOU MAKE I am a holder of bchusd and btgusd I have jettisoned all my btc... I chuckle when I see the 'camps' of bch (minority) versus btc (majority) versus btg (tumbleweed) holders Also at day and swing traders and various parties with skin in the game pontificating and waxing lyrical And waning lyrical!!! What will be will be... And whilst I'm not a chartist, the charts to me are telling all... Forget about the FUD and your greed... Just look at the 3 month charts... As per O'Neil, the bchusd and btgusd charts are forming massive cup and handles surely?!? As such I think we have around 2 weeks before the handle finished forming... Timed perfectly to coincide with CME futures on btc and other news?!? Timed perfectly to coincided with btc 20k territory?!? Let's see THIS IS NOT TRADING ADVICE THIS IS NOT INVESTMENT ADVICE DO YOUR OWN DUE DILIGENCE FOR EVERY TRADE AND INVESTMENT YOU MAKE CUPS AND HANDLES AS PER O'NEIL AND stockcharts.com Cup: “U” shaped CHECK Cup should usually retrace 1/3 or less of the previous advance (could retrace upto half though) CHECK Handle: final consolidation/retracement; up to 1/3 of the cup's advance, but usually not more; wait for the break above the cup rim resistance line, with volume Timing: Our cup took only a few weeks to form, which is a little quick actually; handle is usually 1-4 weeks. So chill people Target: measure the distance from the right peak of the cup to the bottom of the cup. THIS IS NOT TRADING ADVICE THIS IS NOT INVESTMENT ADVICE DO YOUR OWN DUE DILIGENCE FOR EVERY TRADE AND INVESTMENT YOU MAKE
B
by Doc-al-Citadel
Bitcoin BTCUSD Watch out for potential Head and Shoulders hereBitcoin BTCUSD Update If you got long again at the ridiculous hour of 11.30 pm est you're hard working and deserve your 400 points reward. Weirdly the crypto chat room was quite quiet with a guy from London waiting for the BCH burst to top out so he could bail out and fade the consolidation. London's finally catching on. 2018 will be so fascinating and fast moving. It's good for competition, good for spreads and good for us therefore, in time. Now, finally people are taking BTC very seriously. So many Bitcoin jobs to be created now. How long for though? No one can answer that one for us but if anyone will know in advance it will be GS. And the chart. Until that day comes we ride this like nothing has ever been ridden before...in the entire history of speculation. Ever. We are alive for it. Wow Right now Bitcoin is trying to track huigher but is, weirdly, being contrained on the upside by an old parallel from way back in the mists of time (hell, it's 14 days old - that's 2 years in FB time!) - and yet it's clearly back in play once more, stopping the rallies. Another nice day in prospect for day traders but not much for others right now. It's trying to hold a newly forming little parallel off yesterday's lows and needs to keep holding up there or we have a danger of a head and shoulders forming here off the top, with a neckline at 15809 and a minimum downside target at 14210 if it gets broken. Time will tell but right now this is not a very strong pattern, except for day traders. Unless you look to short if head and shoulders gets completed later on, as above.
BITSTAMP:BTCUSD
by sumastardon
2
Gold XAUUSD and Dollar Index DXY UpdateGOLD and DXY Gold and Dollar Index Update DXY did come off from where it was meant to last week but has put up more than just a fight so far in the 92.74-92.50 range. The fight back was to be expected, but it's doing better than envisaged so far here - and these conclicting signals urge caution now ...no interest in getting involved in a battle of whipsaw here but will look to back the winner again here when one emerges...DXY has gapped up today, double bottomed and left a pin bar lying around in the space between the two blue lines of fixed support shown on chart...bullish signals. But it's still trapped within the parallels which are trying to force price lower. Something has to give here soon. ...A break above the upper parallel would be the next bullish signal from DXY - look to get long DXY on the next retest of the parallel from above, once broken to upside, and get long USDEUR and short Gold on this development too. On downside DXY has to stay under the upper parallel for the bears to keep control from here - then they have to force DXY down to fill the gap today at 92.89 and then push it below 92.55 again for DXY to turn negative again from here. As it stands the bears are beginning to lose this battle, not enough fire-power to force DXY lower from here by the look of the chart. Early hours of this battle, still, but increasingly the bulls are beginning to wrest back control here. Confimation will come when the upper parallel is broken and survives the next retest. At that point we look to short gold (if signals there are not already given) and get long USDEUR.
TVC:DXY
by sumastardon
BCHUSD Continuation pattern and key break/buy pointsBCHUSD Update Near Term and Break Points Near Term BCH ran out of upside momentum, double topping at 1461 though this level was actually briefly exceeded, snapping at any bear stops just above it before fading, and showing first quite big red bull engulfing candle off the high of the day...mild rejection, not hot but not cold either, except in very near term - what looks like a continuation pattern is now being hammered out and will likely have further to run yet...3 strikes on the lower parallel shows it's not 'hot' and has to unwind some more, likely recoiling from 1413 - when tested (and almost certainly from the two lines of dynamic resistance waiting just above price to clip any nascent rally in the bud at 1425 now) ...looks like it's a sell one more time from 1413-1426 range and a reverse long at 1351 ideally, or off the lower smallest parallel that this little continuation pattern is running in now. Break Points An eventual break above the upper smallest parallel that holds back price today should be followed (usual drill on breakouts) for a rally to 1620-1638 minimum and 1766 maximum in near term On downside: A break below 1347 would tip BCH from neutral to negative in the near term triggering a short back to 1286 and if this was to fail to 1245.
B
by sumastardon
2
CFI 7mTo Infinity and beyond. BK all day!!!!! Thank you. I got a 1 on 1 on with you @ Wednesday 3pm. Cant wait... Strangely enough, that happens to be exactly the same time that Indahash starts phase 2 of their ICO .. (Hmmmm...synchronicity?>>>> "The charts make the news"-BK I'm pretty new to charting but its awe-inspiring how strong their effect really is. These are companies with employees, and customers, yet they're subject to laws they are not even aware exist. On a weird note... Imagine if human beings have charts? What do you think would symbolizes moving averages in our lives so that when their paths cross, we start to grow? Peace and Love, 9 Lives
C
by AmreElsayed
Dash/Dollar: DASHUSD Entry levels/Strategy ReviewDash/Dollar DASHUSD Strategies Reviewed Time Always Tells The 2 possible entry strategies yesterday gave one great result and for the other the jury is still out. You'll be familiar with the story about the old bull and his boy out on the range: the young bull sees a herd a beautiful looking cows in the valley below and says: Dad, look at those babes...that one looks like Adriana Lima! Let's get down there and...you know the rest. That was Dash yesterday - don't chase, it might just come to you and eat right out of your hand. Sure enough some smart traders stuck a few lazy orders down at 302 (entry was actually placed just above the break level/previous spike low on Thursday at 302.8 but it looks to have come down to 300 low) - and then ripped 57 points or 20% in a near straight line in less than 6 hours...makes Bitcoin look quite tame at the moment. That was the good choice, the older, calmer way to go. The other choice was follow the break-out above new structure at around current prices now, 338-342. Then we have to keep an eye on price action to see how it behaves after the breakout, obviously. And here, it has to be said that follow through is lame, so far. We're in a weekend too. We can see those two spikes that have recently formed, showing quite strong rejection from just under 360, so am concerned here that if it breaks back down below 335 now, it will likely fall away on lack of buying interest to 318 at least and quite possibly it can spike down to 302 again before it rallies...this break-out has failed, so far. That's what the chart is saying, and Dash needs buyers now to push it higher still, otherwise it will start to fall away. So need to put a tight stop under this, if long and day-trading, at 328. If hit, then put a buy order in at 305 with stop just under 296 and see if it gets filled. Longer term The sloping head and shoulders pattern here is similar to the one on Facebook, in this case with a minimum upside target at 453, with the most likely points of resistance on the way marked on the chart. It's good medium term. But be careful of whipsaw between 302 real support and 340 reistance in the very near term. It's a good tradeable 10% range for day- traders once 330 gives way...that's where they're most likely to step in on short side, so use stops, looking to get long again from lower down if 330 gives way. Moral of this dumb story: sometimes it pays to be cool and calculating and sometimes it also pays to follow the herd and play momentum breaks. But a momentum break needs careful watching over on the day following the break: did volume spike on the break out? Has it had follow-through? Are there any scary pin bars forming showing quite strong rejection at higher levels...? You knew all this anyway. Don't trade on hope. Trade on what the chart tells you. If you can manage to master this Zen-like state, you are free. It's not you. It's the chart.
BITTREX:DASHUSDLong
by sumastardon