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BTCCNY

1-7-17 Mid Day UpdateLots of choppyness with 6350 as strong resistance --- doing alot of scalping on future contracts but for the rest of the day here is my strategy: China is waking up and volume will pick up. Tread lightly as we are trying to break out But not overly bearish signals here. Stop losses --- and short if it drops sharply beneath 6200 --- Stagger buys up if it continues to trend that way I am playing with 20% of the coins I usually do because there aren't alot of tell-tale signs Happy Trading --- Lock in gains ---- Minimize losses --- Make sure to always have a chart of 1hour view and 1 day view ---- don't obsess over the 5 min chart ---it will make you emotional and flip flop and be eaten by spread/commission ----- patience is a vurtue "Be greedy when others are fearful and fearful when others are greedy" - Warren Buffet
B
by shayk47
2
BTCCNY Possible Falling Wedge Long Setup Forming on 30mThis time it looks like a falling wedge. Price bound in the wedge currently and bullish divergence on RSI. I'm thinking there'll be one more drop to flush out the bottom shorters, but who knows with BTC. It could even just break out from here. Either way, the bounce is going to be pretty epic. There's a pretty low chance that price falls below 5000. There should be tremendous support in the 52-5400 range given how long the price hung out there before the breakout. As it is, we've gotten a 100% retrace of the rally from the breakout on December 20. Will have to see how it looks from there, but I sincerely doubt we'll be seeing 8000+ until at least a few months have passed given how vicious and prolonged this drop has been.
BLong
by Murch
2
Another Step Down (more detailed)Top of Flag at 6925 Bottom At 65265 That should be trading channel then as it breaks down it legs down quick dont get wipsawed stop losses need limits on them best to monitor yourself so you can execute it on your own but have saftey trades queued up Drink a redbull and join the party! Going Higher but this is consildation make money shorting or move out the way until it starts to make a bottom If this goes side ways here through 16:30 ---- it is more than a flag and we found new support --- So this trade wouldnt be nullified BE CAREFUL AND PROTECT YOUR PORTFOLIO
BShort
by shayk47
1
Bitcoin Ascension: 2.0 You Can (Not) AbortLaunch sequence has been initiated and Judgement Day can no longer by avoided (only delayed). With the presence of the media, we've entered the mania attention phase of the "Second Great Bitcoin Bubble". How high? We don't know. But the next 4-6 weeks of media attention will lead fresh capital onto the previously death filled battlefield. The overwhelming influx will mean whales will soon no longer be able to cap the prices with walls and are forced to unwind their massive positions onto the willing outstretched hands of bag holders. With the aura of FOMO, liquidity will reach a new low as bears and sellers becomes an almost extinct breed. Yet at the most unexpected moment, many will be caught out of position and be destroyed in the ensuring dump of biblical proportions. In this market, bulls make money, bears make money and pigs get slaughtered. Bag holders should not enter unless they are willing to ensure excruciating pain for another four years. If there's ever a time to max that leverage. It's now or never. Required reading. medium.com
BLong
by clown
5
BTC WEEKLY CHART: "The Panic Zone" We're Going To MARSIn the words of Alan Greenspan, you know the rumpled old geezer that speaks in rhymes, said something about irrational exuberance in the markets, I will invoke those same words. BEWARE OF IRRATIONAL EXUBERANCE in the bitcoin market. What's causing this straight up spike in price? The China devaluation of the Yuan, the India currency confiscation, and here's a new one, the Brazil distrust and ejection of big government communists, have all laid a foundation of Bitcoin price support. It didn't hurt that Trump got elected, that the dark cloud of illegal immigration in Europe is causing a nationalistic resurgence, that Italian and other Euro banks are failing. These are all fundamental strengths. But what has taken place in the last 3 weeks in Bitcoin, a 50% gain, cannot go on forever. This is a classical setup to a blow off top. The Yuan is at a 6 year low relative to the dollar. This will not last. The cost to China industry for raw imports like coal and oil will be through the roof. China will move into recession/depression. Civil unrest there will emerge as jobs dry up from industry contraction. The Chinese government needs to stop the Yuan devaluation to preserve its control over the population. NOTHING GOES STRAIGHT UP IN VALUE FOREVER. There will be an end, and it will be dramatic. I kind of think that the big boys are looking to touch an all time high and then take profits faster than you can say WTF. What kind of evidence do I have? NONE. It's just a gut feel. So, I have loosely defined the top. Where's the bottom? There is solid support at $750. My advice. Take down incremental profit into this rally. Don't sell everything because we don't know where the top actually is and we're nearing uncharted territory as far as the technical tools. Just take down the profit you feel you don't deserve. When the market drops down to rational support, re-invest the profit. If the scenario plays out, the technical pattern will be a GIANT cup with handle formation. A breakout from the cup will have an approximate $2000 target. When? The cup is three years long. It could take another year for the beginning of a breakout. So, maybe, 2 years for a target. I'm still sticking to my $750 by mid February prediction although if the pullback shows signs of support at $950, I'll gladly raise my expectations.
BITFINEX:BTCUSD
by investigator
6