Bitcoin: BTCUSD
Poor Bitcoin call late last night: a nasty little fake-out at 8144
buy point saw Bitcoin flip under the stop at 8140 for a small
loss, but could also have triggered a short at that point with a
stop above 8144 - also flipped - so two small losses, and more
painful still, the idea was OK - it did what it was meant to do
and rally, but we got stopped out. So annoyong and one of the
problems trading Bitcoin when you can't be there to watch
over its every move 24/7. Sorry for that.
Anyway, back on the horse...
In the last 12 hours Bitcoin has regained its equilibrium,
dusted itself down and made another break for the border
line highs at 8340-8350. And this time it's escaped, breaking
free and now building up a head of steam ahead of what looks
like another burst higher. It's unwinding a little now but using
the old highs as support - whilst it holds at the old highs at
8350-8340 it's strong. It's a buy here with stops tight under 8330 as
if this fails it will come back to the next blue line at 8280.
Right now this is good for day traders trading between the
lines but needs to do some more unwinding... We can look to
buy off 8344 and 8280 and day traders can follow a break
aove 8410 on next minor pull-back using a stop under 8370 in
case of failure.
Poor Bitcoin call late last night: a nasty little fake-out at 8144
buy point saw Bitcoin flip under the stop at 8140 for a small
loss, but could also have triggered a short at that point with a
stop above 8144 - also flipped - so two small losses, and more
painful still, the idea was OK - it did what it was meant to do
and rally, but we got stopped out. So annoyong and one of the
problems trading Bitcoin when you can't be there to watch
over its every move 24/7. Sorry for that.
Anyway, back on the horse...
In the last 12 hours Bitcoin has regained its equilibrium,
dusted itself down and made another break for the border
line highs at 8340-8350. And this time it's escaped, breaking
free and now building up a head of steam ahead of what looks
like another burst higher. It's unwinding a little now but using
the old highs as support - whilst it holds at the old highs at
8350-8340 it's strong. It's a buy here with stops tight under 8330 as
if this fails it will come back to the next blue line at 8280.
Right now this is good for day traders trading between the
lines but needs to do some more unwinding... We can look to
buy off 8344 and 8280 and day traders can follow a break
aove 8410 on next minor pull-back using a stop under 8370 in
case of failure.
Note
day traders can play te range between top two blue lines in very near term, selling off the high one more time, closing out and buying from the old high/blue line again..in very near term, biut ready for break out sometime quite soon https://now...https://tradingview.sweetlogin.com/x/Get2dEgN/Trade active
So that last sell off th etop and buy backoff the bottom again worked sweetly..aaahead of brak out. That's 100 points to play with this weekend as stops, to gear up for the aggressive , to use normally for the normal...Now if it can hold up off 8400 it will show very strong...and for day traders if 8400 gives way now it's showing lack of neartterm momenum and can revisit the line below it again one last time...being a bit lazy and no follow through as yest but good whilst above 8400 nowTrade active
Day trraders acn take profits as the upper parallel is struck...quick!Note
Note
OK apologise for dyslexia with 'A's it's weird but have to type this stuff very quickly and fire it out or it's out of date..Bitcoin! she moves as quick as Alien sometimes. At least we caught it this time. So helpful when it does this whilst we're awake for onceNote
take 8540 ffsNote
bitcoinWow. Broken the upper parallel and now consolidating around where we sold. It looks like a buy from 8530 but must hold here or it's likely to fall away more, potentially back to 8410 at lowest so stops on longs from here need to be quite tight underneath.
Note
stops on longs have to be below 8520Note
Looks like th elow is 8540 where we sold....bitch. Raise bids to 8550. even 60 but stops as above stillNote
We should have got filled at last at 8560, stops as above.. let's see where this goes now. Just an amazing display of technical gymnastics so far on this quiet saturday. Don't get dragged out shopping. as if. Looking like it's now using the upper most line as support...stay long and even increase here, stops as above for Sorry about this - have written a new comment on Bitcoin as this is a fresh trade now from 8560...otherwise it takes all day to scroll down.
For the record: So far we've taken about 60 points from "last' short from 8409 to 8344 and then bought again here, which worked so well for once and netted about 200 points. Quiet weekend. screw football. oh to be awake for it. thank you Bitcoin, thank you Universe too, seriously. No joke. Do you get that? Waves. Vibrations. Everything, dude. Everything. Just got to spot em, is all. Let's see where this super fast-moving perfect life form leads us next. Follow chart. Let the force stay with us this weekend. Updates from here on the new chart upload.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.