Bitcoin Next Trade Points from Here
Hard grind right now but hoping for a decent trade when we finally get a break of the bigger flat wedge formation - or larger triangle depending on the eye of each beholder.
Largely neutral inside the triangle though.
A break below 6529 on Bitfinex needed to flip short back to 6380-6337 range at least and more likely to 6122...
BTGUSD Next Short Set-Up from Here
The wider spread compared to BCHUSD has seen
volume shrink away on this pair and swell on BCH.
But it's still a good shorting vehicle nevertheless. It halved
from 26 to 13 in a matter of days for example.
"No coin is ever too low to sell" - to update a W D Gann quote
for the 21st century.
The downtrend is still strong here...
This has been a good short through most of August, down 20%+
from the 542 break level to 426 now.
There was a second chance to short again from the lower
green arrow as it broke the continuation pattern at 46 which
has yielded close to 10% this week.
But it's making a little double bottom here and the near term
downside target has been touched...
BTCUSD Bitcoin - Next Trade Points from here
Bitcoin broke lower overnight but stopped just a few points above the 6226 line on Bitfinex and then rallied back above the 6312 line, dancing either side of it for a couple of hours as it made a small bull pennant before surging back to retest the upper boundary of the triangle again.
A Groundhog day.
Price has now...
ETH has been a fabulous short all the way dwon from 399 in a succession of trades over the summer. Left this one looking for a bounce from 252 and by chance happened to write on it last at exactly this point.
At least shorts were closed out there but really should have reversed long there too.
Easy to say that now of course....
It's afe agin whilst it's...
NEOUSD Update and Next Trade Points
It's been a week since the last scan across the top 20 or so coins.
A lot has happened in 7/8 days.
Remember that no coin is too low to sell and likelwise in a bull market no coin is too high to buy.
Remember also that we play a game of probability. Some play momentum and volatility and some play hunches and mistaken beliefs....
Bitcoin Update 2nd August 09:54 Bst 05:54 Est
Bitcoin made the double bottom at 7465 after a little spike lower to 7453 on low volume overnight before reversing higher again.
It's still a little weird that it stopped where it did. It may be manipulation and maybe not. It's not easy to say for sure. But it was a little strange and means we need to stay...
Bitcoin Chart Updates
A slow weekend of range trading has given way to an equally slow start come Monday.
It's held up well through Saturday and Sunday but here is still no intererst above the 8298 line as yet.
Spikes of desire off the 8070 line and rejection spikes above of equal dimensions from the 8298 line show equal indecision here at these levels.
Bitcoin Update 26th July 11:16Est 06:16Est
Bitcoin was a buy on a break above the 8160 line yesterday (though by time comment went live it had already broken
higher, sorry- busy day yesterday all round)
It was also a buy if missed the first break on a return to the 8160 line overnight, with the low being 8163 since then.
But the rally is a little lame so far...
S&P 500 SPX500USD
Of the 3 charts followed for S&P 500 index, this one has been the most reliable recently.
We were looking for S&P strength as the last but one of the Fangs report earnings with
Amazon on 26th after hours. Google has helped overnight.
After triple bottoming at the 2790 support line the S&P has rallied higher, making a little
spike off the next...
Bitcoin Bitmex Chart Update XBT
After 36 hours of consolidation Bitcoin has held above the key 7265 level after a spike low at 7243 on this feed and since
then has survived a couple more retests. It's not ready to fall away yet therefore.
Looks as if it will make another attempt to touch 7615 and maybe spike into the uppermost parallel again as yesterday -
BTCUSD: Bitcoin Trade Points From Here
After a surprisingly active weekend of over 750 points profit
(from 7579 before getting stopped out at 6825, stop was too
close by about 45 points or so here, sorry) Bitcoin has moved
back into neutral in the nearterm.
On the Bitmex chart Bitcoin is now moving in a 200 point
range bounded by near term resistance at 6860...
GBPUSD Update 31st May Month End
Streling has fallen to the downside target at 1.3301 after a
low at the old 1.3219 support line for a 150 pip or so profit.
Eventually it should fall away further to the next support line
at 1.3029 but in the near term the counter-rally is already
pushing the upper dynamic at 1.3345. It should stop here
really looking at this...
31st May FTSE 100 Index Update UK100
FTSE bounced away nicely off the support zone at 7600-7580
and really we should have reversed back long off 7600 with
stops below 7580. My bad here.
But it's beginning to struggle and if you were slick enough to
reverse long again without prompting the long stop needs
raising to just under 7680 here.
Any failure to hold...
BTCUSD: Bitcoin Trade Set-Ups from Here
The pattern Bitcoin is currently making is treacherous and too
unclear to contemplate a trade at this point.
It looks and feels more manipulated right now than ever - as if
price is being left to run a little higher to stop hunt weak
bears before it gets reeled back in again. It should only get as
far as the upper...
Although it's bounced off the support line at 543 after a spike
low at 538 ETH is still vulnerable until it clamber back above
the 593 line here and hold up on the restest once it does so.
If you bought off the 543 line here it's not a bad idea to take
at least half off the table again if not all. It will follow Bitcoin
as usual. Can buy again...
WTI: USOIL West Texas Intermediate
Unlike on Brent chart there is only one clear and true reverse
head and shoulders evident on the WTI chart (left shoulder
not 'true' on the smaller one, yet so clearly evident on the
Brent chart, please see companion forecast for UKOIL for
So this chart is still forecasting longer term upward pressure
Sterling is unwinding its oversold condition by flipping within
a near term range bordered by resistance at 1.3614 and
support at 1.3462-1.3455.
A break below 1.3450 will trigger the next short down to
And on the upside a break above 1.3615 is required to arrest
the downtrend and to start flipping more short stops for a 100
pip rally to 1.3715.