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Nasdaq 100: NAS100 Still Positive From Here - Next Buy PointsNasdaq 100 Index Update The minimum upside target at 6694 was met and the next, at '6787 at best before it falls away again' fell 12 points short with the high of the day at 6675. Since then Nasdaq has fallen away in a little continuation pattern that signals further upside in store. It's just exiting the pattern and can be bought again with stops below 6560. Or can wait for stronger confirmation once 6614 and the dynamic above it has been broken above and held on retest. Should then rally to 6673-6694 range and then once this this range is passed - after a period of consolidation here - should rally to 6787-6800 and then back to the highs. Nasdaq only turns negative again if the lower parallel supporting price gives way at any point form here.
FX:NAS100Long
by sumastardon
Nasdaq 100 Index: NAS100 Next Buy and Sell PointsNadaq 100 Index: NAS100 Next Buy and Sell Points The last 3 declines on Nasadq were 339, 357 and 345 points. This one is now 354 points, so far - par for the course. Nasdaq is now flipping within the boundaries of the two fixed lines of support at 6696 (spiking below here by 20 points to 6676) and resistance at 6786 (spiking above here by 19 points to 6807). It's therefore near term neutral whilst within this range. It has to fall below 6670 to trigger a short back to 6614. This level must hold up throughout this week. Any failure here will trigger a second short back to 6371 minimum and more likely to the 6231-6192 range. On the upside a move and hold above 6810 is needed to trigger a long to 6876-6890 where will look to close out if touched and then maybe reverse short with stops above 6910. So far this is a short, fast decline which matches the size of the last 3 - but the shape of this one doesn't suggest continuation as the others did. It's too sharp, suggesting it may well have further downside to run. Breaking lower to 6614 will become the biggest decline for 2 years - and signal that once broken the Nasdaq will test 6371 before it becomes a buy again from here.
FX:NAS100
by sumastardon
Bitcoin BTCUSD On The Brink Next Buy and Sell Points TodayBitcoin BTCUSD Update Next Buy and Sell Points The overall technical picture has not changed for the better as yet. Bitcoin is now on the brink, staring at a large 2000 point abyss. Even at these lower levels where it found willing buyers late last week, today it finds none. Dead cat bounce. It's still a speculative buy at 7700 and close but only with a tight stop just under 7690 for small loss if wrong and ready to reverse this position to short if 7680 gives way looking for 7430 to begin with. Then once this level gives way it becomes an aggressive short back to 5591 whhere it should get a good bounce again. The other potential long entry point will come if 7700 continues to hold out - then need to see it take back 7945 line and hold up there and then break above 7820 annd hold again at 7945 on that next retest...then can look to enter longs with stops below 7900.
BITSTAMP:BTCUSDLong
by sumastardon
Bitcoin: BTCUSD Next Buy and Sell Points TodayBitcoin BTCUSD Next Buy and Sell Points Today We left Bitcoin overnight to track the parallels lower to the next downside target at 8300 on Coinbase chart. The low so far is 8310. Close but no cigar. Bitcoin is still under pressure whilst unable to break above the dynamic which has clipped all rally attempts overnight - cannot be bought unless it breaks above this dynamic and regains 8610 and holds there - only if we see this price action develop can we go long for 9093 and a test of the upper larger parallel where will look to close and maybe reverse short again at that point if touched. But until we see that the selling pressure remains. It has to hold now at 8300 or we have another poor day about to unfold. Some day traders will buy here around 8310 but with stops close under 8300 and ready to reverse for small loss if wrong if 8300 is broken now. On the downside the next short kicks in on a break below 8300 . There's minor support at 8150 which may create a little bounce but the next support any significance below 8150 is at 7830 on Coinbase, then 7500 and finally 5656. A break below any of these levels by more than 30 points or so should lead to a test of the next level
COINBASE:BTCUSD
by sumastardon
Bitcoin: BTCUSD Update and next key buy/sell points Bitcoin BTCUSD Next key Buy and Sell Points Bitcoin is again trying to build a base from a new near term low established at 9515 on Bitstamp feed. It's made a right shoulder at 9912 support line since then and is trying hard to rally but finding resistance from the old parallel above it which had acted as support earlier on in this decline. It fell 2500 points or 21%, as standard decline for most major indexes in a major consolidation. Usually, after such a large decline Bitcoin often forms a V bottom as hungry buyers chase it back higher again. This is not the case today. Bitcoin cannot recover from here unless 10262 blue line is retaken and held by the bulls - only then will we look to go long again with stops 50 or so lower looking for 10547-10576 range initially and then the next level at the 10772 line to close out again. Day traders will likely close out at 10547 creating a wave of profit taking, looking to buy back 150 to 200 lower. On downside bears are still selling off that old parallel above price now and Bitcoin remains vulnerable whilst unable to regain 10262 level. To trigger the next short from here we need to see 9912-9900 broken but even then Bitcoin will look for support at 9750 line so this will only offer a quick short scalp in all likellihood. To turn outright bearish again now Bitcoin now has to bust below 9500 in which event it can be shorted again back to 9371 at least and likely to 9210-9200 where will look to reverse if struck with stops 50 or so lower. Short positions yesterday and overnight yielded around 860 points of profit to begin with but the final short from 9750 failed to reach the target and resulted in a 50 point plus loss, so just under 800 points or 8% in scalps. So long as Bitcoin keeps moving up and down we can make points. So long as half the world thinks it could be worth $50,000 and the other thinks it's worth $5 we have a big range to trade within. The biggest range in the history of speculation/investment. We don't need to even believe in Bitcoin or disbelieve either. We just need to follow the signals off the chart and try to follow them as best we can. Usuually the chart signals tend to work quite well with Bitcoin and produce large gains - and when they don't, as with the last short overnight, they produce smallish losses. And if you subtract those losses from the gains made over 3 months of intensive trading (resumed the hunt for Bitcoin in earnest on November 3, 2017) you'll find just shy of 27,000 points have been scalped from Bitcoin in that period. This was only possible because Bitcoin has moved both up and down so much in that time. Why seek to own a Bitcoin if it might only be worth $5 at the end of the day? Because it might also be worth $50k at the end of the day. Who knows, do you? Let others decide its true worth and in the meantime we can trade both sides of the argument until the day when arguing stops.
BITSTAMP:BTCUSD
by sumastardon
Bitcoin: BTCUSD Trying to build base: Next buy and sell pointsBitcoin BTCUSD Next Buy and Sell Points The weekend rally ran out of impetus by Sunday night with no impetus still from far East. Since then Bitcoin has zig-zagged back down in a continuation pattern, finding support from just above fixed and dynamic support junction at 10772 on Bitstamp chart and bouncing back up to test the parallel above it before recoiling once more. Whilst this price action is therefore still providing a great space for day traders to trade within the parallels, it's not much help to swing traders as yet. But the near term double bottom and the dynamic support below price at 10772 has turned Bitcoin neutral in the very near term and given succour to the bulls for now, creating the little rally we've just seen. The bears are fighting back from 10987-11000 range and whilst they can hold price under here they remain in control still. Aggressive bears continue to sell from tests of the upper parallel and aggressive bulls buy from tests of support just above 10772, creating this stale-mate within this range for all but day traders right now. Next Buy and Sell set-ups for Swing/larger Trades: Bull case: Bitcoin is trying to base out here and 10772 is best place to do it from. If so it will bounce from 10875 first support and from 10772 at lowest now and then break above 10987-11000 and hold on any retest once broken above...that price action will flip Bitcoin back to positive and we can look to buy with stops below 10950/the parallel once broken. Bear Case: (beginning to lose it, especially if 10875 holds now) Bitcoin has to break below 10772 by 20 points or more to trigger a short back to 10547 initially, then to 10262 and then to 9912 in all likelhood.
BITSTAMP:BTCUSD
by sumastardon
3
Bitcoin BTCUSD Sunday Update and buy pointsBitcoin BTCUSD Sunday After breaking lower early on in London on Saturday morning Bitcoin fell to a low at 10800 on Bitfinex feed - was meant to fall to 10750 at least once the break came, so not too good. Even worse, no buy orders were placed anywhere near the lowest levels...on the upside Bitcoin had to break above 11230 to trigger the next long, looking for resistance at 11336 which then needed breaking by the bulls to trigger a rally to 11646 initially and then on up through the resistance levels above it to an upside target at 12950. Having made that break Bitcoin did rally to 11646 level, spent 12 hours consolidating at these higher levels before a second surge of buying interest took it to a high overnight at 12190. Overall, Bitcoin is beginning to stabilise and absorb bad news by defiantly making higher lows with each new horror story to hit the market. These are signs of underlying strength. Institutions and traders are happy to buy the dips. Additionally, there is a bull case for calling Bitcoin up to 15770-15957 range on the back of a massive reverse head and shoulders formation, the neck-line of which was broken through yesterday. This pattern is a little sketchy so only the neck-line has been drawn in here, but the break came at the 11330 level on Bitfinex and has a minimum upside target of 4625 points, so 15955 on Bitfinex...time will tell In the nearer term Bitcoin is unwinding an overbought condition and can come back to 11646 again and potentially to 11500-11400 range at lowest before the rally continues. Look to buy the dip. Bitcoin is beginning to recover - but we still look to trade this monster rather than seeking to own it outright. So long as it keeps moving we can make a lot of points by following the breaks signalled by the charts, whichever exchange you happen to use
BITFINEX:BTCUSDLong
by sumastardon
2
Bitcoin BTCUSD Bitcoin and Klondike Compared/Next Buy PointsBitcoin Weekend Update - Bitcoin and Klondike Compared - Next Buy Points After the selling climax reached post S Korean news Bitcoin, if it was to continue acting like text-book version of how a coin should move, was expected to rally back to the very start point of the rout and then consolidate. Overnight Bitcoin played by the book. Actually the high on Bitstamp was 14468, some 29 points under the actual point of rout, but not bad. This beast a proper thorough-bred. Earlier yesterday either you got stopped out at 13700 for 1000 points profit, or if using the 'other' service which cannot be mentioned by name under threat of yet another ban (see top left of sumastardon page, under big green S for more details of that if a Bitcoin aficionado) will have managed to exit very close to the top of the run yesterday at just under 14150 for some 1440 points profit, or 10% of Bitcoin in 12 hours flat. We can make some serious returns on Bitcoin without ever having to 'own' it for very long...too risky! Trading this monster is in reality way LESS risky than owning it. Since that trade we have gone long around 13600 and lost 60 points and gone long again from 13417-13370 range with the subsequent low being struck at 13391, right in the centre of the lowest downside target, and has since rallied overnight to retest the S Korea pre-news level to within those few points at 14437. If you closed out close to those levels that was fine trading and another 1020 points won...so up to 2400 points 'mined' in just 44 hours or so of frantically...twiddling our thumbs and hitting a button about 6 times. When you stop to compare the hardships we have to endure to mine a few points/dollars from the rich seam in the sky to those faced by the men who set out to find their dreams in, say, the Klondike gold rush it makes the head spin. The risks they took and the broken dreams they took home with them, if they survived the ordeal, bear no comparison. They were looking for something real (gold) and for the most part couldn't find it. We look for something 'unreal' and seem to find it everywhere. We don't have to cross oceans and climb 'golden staircases' in deepest winter risking our very lives to find it like some of our ancestors did. Could this have been you in another age? We can sit at home and watch Bitcoin and chill. Way more exciting than Netflix ever was or could be, no? But there's a deep irony there too. We are so damn lucky. Do we realise it? Well we really are making it 'real' in some respects. We are turning something that might still be unreal into something tangible and very real. Bitcoin = points = dollars. E=MC2 for miners. And so long as we hold the dollars who cares if it's real or not? That is not our problem. Our only 'problem' is spotting patterns in the seam and trading/mining them. That is all we should be concerned with, pretty much - as well handling tax returns - which should be quite large unless you're planning ahead... But back to the now, now. Bitcoin is consolidating overnight gains and now has to push on through that high from overnight and break above 14460 to really power ahead again from here, triggering the next long for 500 points to 14960 - otherwise we wait for lower values. First support is at 14081 but gets stronger at 13965-13900 range ...look to buy the dips still, Bitcoin is beginning to get back on its feet
BITSTAMP:BTCUSDLong
by sumastardon
2
Bitcoin BTCUSD Update and next buy pointsBitcoin Update The long from the retest of the lows at 12810 on Bitstamp chart has gone quite well overnight as far Eastern buying helped to drive price back up towards the start of the rout that began 24 hours earlier out of S Korea. We had a likely upside limit to his trade in the near term at yesterday's high point around 14200 for a rough 1300 point win but it's stuggling here somewhat under the weight of a new set of parallels that have emerged overnight...likely to unwind some more in near term - day traders are cashing out at these levels after a 1300 point win from the lows and causing Bitcoin to flip around at the highs... Bitcoin is still not home-free from here but it's close to the border line now. We have to see Bitcoin break above the last high at 14215 to show that we have a real change in trend back to positive from this point - this is the price action we have to see later today for Bitcoin to stay good for a retest of the highs..until we see this happen we have no real proof that the trend has changed decisively - this could be another counter rally in a downtrend so far - beating back and regaining 14215 and holding up on the retest would give us that proof we need that Bitcoin is good for a retest of the highs from here. In near term this pattern is one of consolidation - if not day trading and wishing to run this long for the next few days (hopefully) raise stops to a little under 13780 on Bitstamp for just under 1000 points profit from the low...this still looks OK but that green streak below us is uncontested so far...can come all the way back to the start again potentially of the green streak and to the lower parallel before rallying again if 13700 gives way later...we need to see Bitcoin beat the last rally high yesterday to immediate left of price to show that Bitcoin is definitely changing trend from here - that will attract more buyers and take price up to 14500 -14656 range which is the area from which the sell off in S Korea began and the next potential area to look for a consolidation to occur from. And on downside, if we do get a test of the lower parallel later on that should be another good opportunity to get long again with stops 50 to 100 below the same line.
BITSTAMP:BTCUSDLong
by sumastardon
3
Bitcoin BTCUSD Next Buy Points TodayBitcoin: BTCUSD The flag formation stayed good up to the point when the Far East session took over, with no further visits to the lower parallel - 2 strikes = 'hot' - and Bitcoin then duly broke higher as the flag had warned it would. But the rally only got as high as 13462, some 18 points shy of the target before falling away again. So was 22 points out on the downside limit yesterday (meant to test the lower parallel but it stopped just short) and 18 out on the limits of upside for the day - important to follow how accurate or not these calls are so you can work out an acceptable margin of error to trade off them, is all. The forecast should have said 'look to short again from upside target' which was remiss as no other upside targets were mentioned - this was expected limit of upside. Should have covered that. But we make over 1000 points on downside and took 2 longs which yielded close to 900 points on upside yesterday - where else can you do that on a quiet Saturday? The first long was brave and not very easy to enter right off the lows as it never hit the lower big parallel, but the second long at the other end of the day (as China opoened) was worth waiting for and worth following - but even that fell 18 shy of the intended target. No cigars, again. But Ok in quite tough conditions. We could have been wrong-side of this - in fact since starting to hunt Bitcoin in deadly earnest from November 3rd - over 60 days of intense tracking and trading - we have never been the wrong side of this monster once...when the chart has said bullish we have followed and vice versa when it told us it was turning bearish. And then when it told us to stop being bearish, we stopped being bearish. If we just accept that the chart is boss here and not us we can keep doing OK, hopefully. Since then Bitcoin has relapsed back 800 points to retest the support line at 12617 and bounced...it should test 13000 and come off again - still no really good clue that this bear phase is done yet - would be helpful to us to see a double bottom created on next decline. Failing that, Bitcoin is hammering out a continuation pattern now which can be followed long once 12987 is broken to upside for move to 13460-13489 again. Day traders may look to short from 12987 with stops 50 above but ready to reverse long if 13000 is broken, as above. A break of any support/resistance line by more than 20 points should lead to a test of the next line for day traders.
BITSTAMP:BTCUSD
by sumastardon
5
Bitcoin: BTCUSD Still trying to make its escape even nowBitcoin: BTCUSD The big lower parallel came to Bitcoin's rescue and gave as good reason as any to close out shorts from here...but it didn't quite hit the line perfectly, which was then lying at 12028 - the low of the day was in fact 12050 - so quite close, 22 out, but no cigar. If you managed to get out and switch long close to the lows you therefore did really well. We were then looking to switch long to 12480 for about 400 points - but should have stayed much longer (in hindsight) as Bitcoin went on to rise by another 700 points or so. Not good. But OK in tricky conditions. Right now Bitcoin is busy hammering out a little flag with 2 strikes on the lower line. If this can hold up and not revisit the lower parallel now Bitcoin will stand a chance of another temporary escape - but to do so it will have to break above 12987. Only then would it worth risking a long for 500 points to 13480. On the downside the lower small parallel of the putative flag formation has to hold up at all costs now to stop Bitcoin falling away to 12301 -12255. If this then fails it will fall at least back to the low at 12050 and more likely lower still to 11923 and to the big lowest parallel at any selling extreme. At all costs the lower big parallel must continue to hold this decline or it will go into a bigger tailspin. And should it fail and then 11090 fail to hold at any point over the weekend it will tip Bitcoin further into very negative territory, forcing price lower still, to 10486 to start with and then, once this fails back to 8342.
BITSTAMP:BTCUSD
by sumastardon
Bitcoin BTCUSD Next buy points from hereBitcoin. BTCUSD After spending an hour or so dancing between the two bigger parallels Bitcoin finally broke higher when China opened, and buyers drove it in a straight line 600 points higher in 15 minutes of frenetic buying, seen in the strong green candles on chart - and rising up through 4 blue lines of resistance before peaking and now falling back to where we were at the start of this break yesterday. Frustratingly the advice to raise stops on longs to break even was too timid (at 14250) and so apologies for losing out on a good trade, as so often, when China kicks in. (it was getting late, UK time and had to protect the position overnight - honestly would not have had to do this if not for time factors - think need to shift sleep patterns if a UK or European based trader to somehow last up to around 3am UK time - otherwise so many good moves are missed - but then some great moves start at 5 to 6am UK time too...it's not easy to decide) There is no trade still - but that little parallel it's working down now may present an opportunity to go long once it's broken to the upside, with stops under the parallel by 100 points (either follow quickly on exit of the upper parallel or wait for a retest from above once broken) - at around 14200 with a stop 50 to 100 below. Otherwise we can wait to see if there is another test of 113542-13456 zone to try another long from here.
BITSTAMP:BTCUSD
by sumastardon
Bitcoin BTCUSD Entry points for shorts: Clean chartBitcoin: BTCUSD Trading The Breakdown The massive head and shoulders top formation that has been building since the weekend highs has been completed today. Though quite loosely defined and with two potential neck-lines lying 300 points apart at 15814 and 15509 the pattern is undeniably bearish for the next 24 to 48 hours by look of the chart. But in very near term Bitcoin is staging a counter-rally which has taken it back to the upper neckline at 15814 where it's meeting resistance - it will now have to push on through here and hold up to trigger a further unwinding of shorts back up to 16447 and into the upper parallel before it crashes back down again. But whilst unable to beat 15814 and hold Bitcoin is vulnerable - a sell from 15800 with stops 60 higher for small loss if wrong and it can beat this level and hold - in which case it should rally a further 800 points to the upper parallel and then come off from there - so presenting a second chance to short from highest extreme likely with a stop about 80 points above the patrallel. So two chances to short from here. It should fall away from 15814 (and from 16447/upper parallel at highest) - to test 14040 at least and more likely 13086. The minimum downside target implied by the head and shoulders is 11391. The blue lines of support and then resistance have been working OK so far since the descent began - as usual a fall below any line by more than 25 points or so should lead to further weakness to the next. The new parallels guiding this descent are wide and strong - wider than any of the up-trends on the other side of this mountain. It's big. Obviously. The chart shows it clearly. Right now Bitcoin is making a little continuation pattern - under the neckline - it will fight at 15000 and just above - a lot of orders still determined to buy at this round number - but they are matched by equally determined sellers at 15814. Eventually the bears are likely to win...use any last rally up to 15814 as a selling opportunity with stops just 60 points higher for small loss if wrong, looking for a fall to 14035 initially, then lower still, as above. If not already short any break below 15000 by more than 10 points can be followed for a fall to 14040. And when this gives way another short opens up, this time to 13086. Or look to use this little rally attempt to sell from 15500 with stops 60 points higher *Stops - cannot be used in traditional manner with Bitcoin. You have to keep a stop number in your head and set an alert so if it comes within 50 points or so you get a notification and then have to watch to see price action: is it a spike down to your level and quickly bought back up or is it sticking... be cold, emotionless, machine-like. Easier said than done sometimes.
BITSTAMP:BTCUSDShort
by sumastardon
Bitcoin: BTCUSD Trading the BreakdownBitcoin: BTCUSD Trading The Breakdown The massive head and shoulders top formation that has been building since the weekend highs has been completed today. Though quite loosely defined and with two potential neck-lines lying 300 points apart at 15814 and 15509 the pattern is undeniably bearish for the next 24 to 48 hours by look of the chart. But in very near term Bitcoin is staging a counter-rally which has taken it back to the upper neckline at 15814 where it's meeting resistance - it will now have to push on through here and hold up to trigger a further unwinding of shorts back up to 16447 and into the upper parallel before it crashes back down again. But whilst unable to beat 15814 and hold Bitcoin is vulnerable - a sell from 15800 with stops 60 higher for small loss if wrong and it can beat this level and hold - in which case it should rally a further 800 points to the upper parallel and then come off from there - so presenting a second chance to short from highest extreme likely with a stop about 80 points above the patrallel. So two chances to short from here. It should fall away from 15814 (and from 16447/upper parallel at highest) - to test 14040 at least and more likely 13086. The minimum downside target implied by the head and shoulders is 11391. The blue lines of support and then resistance have been working OK so far since the descent began - as usual a fall below any line by more than 25 points or so should lead to further weakness to the next. The new parallels guiding this descent are wide and strong - wider than any of the up-trends on the other side of this mountain. It's big. Obviously. The chart shows it clearly. Right now Bitcoin is making a little continuation pattern - under the neckline - it will fight at 15000 and just above - a lot of orders still determined to buy at this round number - but they are matched by equally determined sellers at 15814. Eventually the bears are likely to win...use any last rally up to 15814 as a selling opportunity with stops just 60 points higher for small loss if wrong, looking for a fall to 14035 initially, then lower still, as above. If not already short any break below 15000 by more than 10 points can be followed for a fall to 14040. And when this gives way another short opens up, this time to 13086. Or look to use this little rally attempt to sell from 15500 with stops 60 points higher *Stops - cannot be used in traditional manner with Bitcoin. You have to keep a stop number in your head and set an alert so if it comes within 50 points or so you get a notification and then have to watch to see price action: is it a spike down to your level and quickly bought back up or is it sticking... be cold, emotionless, machine-like. Easier said than done sometimes.
BITSTAMP:BTCUSDShort
by sumastardon
8
IOTA: IOTUSD Next Buy PointIOTUSD IOTA Buy and Sell Points Next buy point comes on a break above the small dynamic resistance line which is currently holding back price or from the first support line at 4.363 with stop below the lower (rising) dynamic that underpins the rally today. Look for rally back to the upper dynamic that holds back price on chart around 5.148. Next Sell Point will come on any break of that same dynamic at 4.273 now, looking for a fall to 3.569. Reverse any shorts here with stops below 3.500, if entry is struck. Looks good still whilst 4.363 holds up .
BITFINEX:IOTUSDLong
by sumastardon
BITCOIN: BTCUSD Retesting underside of larger parallel alreadyBitcoin: BTCUSD Whipping in a tight range between 16750 resistance and 16650 near term support. A break above 16800 is needed to open the way for a long trade up to 17235. The large parallel above price should hold Bitcoin back when it touches it so look to sell when the underside of the parallel is tested around the old highs. To power higher from here it will have to break above that parallel again and hold up there on any retest. It looks unlikely in the near term but could happen later: if we see this happen it will be a very bullish outcome, signalling another 1000- 1200 points of upside, towards the uppermost parallel. But in the nearer term Bitcoin is likely to meet profit takers at the parallel and up to the old highs at 17270 and will likely come back to 16740-16650 range one more time before bouncing once more. If we see this decline set in try to use it as entry long with stops below 16580
BITSTAMP:BTCUSD
by sumastardon
BCHUSD Speccy Buy hereBCHUSD This short back to 1178-1123 range was going OK until that horrible spike around 19.30 GMT which stopped us out for rather sad 110 to 160 point profit when there was so much more downside left here. Still, we went long again at 1178-1123 range with a low at 1125 so no stops were hit in the final flush we were looking for. Sadly, have been so caught up in Bitcoin that this call has been left unattended. Bad. That high at 1545 and the pin bar it left at the top was surely the best invitiation even a newbie could get to close out. Please say: Yes! 400 points profit in 5 hours flat if you agreed. Now BCH is coming back to test 1349 support, roughly 50% of the rally. It's back to being a speccy buy again here (1350-1336, with stops under 1330) for small loss if wrong. Hopefully you can afford it now...
BLong
by sumastardon
BCHUSD Back to bottom of structure...BCHUSD Update Neutral/near term bullish with Caveats When you see a failure like this you have a good idea of where it should come back to...the beginning of the structure to its left, right? BCH certainly took its time but has eventually succumbed. As with BTG most stale bulls have been rinsed out in the wash, us too, thankfully. BTChas come back to the beginning now and is trying to go again...would really like to see a double bottom form at 1385 to feel good about a long but we may not get it. Look to buy on dips with stop below 1380 for now. Don't push upside too far though, this pattern downwards has not fully completed yet. Expect one more downwave which must then hold at 1385 for this to really turn positive again from here.
B
by sumastardon
7
DASHUSD: Continuation pattern ahead of next surgeDASHUSD Continuation pattern under highs Longs left in the market were triggered by the spike down to 641 level (low at 639) so we got filled, just! Ain't fishing great?! Now Dash is unwinding again but doing it in a flag/pennant formation under the highs. two striles of the lower parallel signifies hot, still. Don't want to close this position unless the lower parallel fails, in which case it will tumble back to 673 and spike at 641-639 again. If this happens close and buy again at 643 with stops 20 lower. On upside, look to add or follow on a break above the upper smaller parallel of the flag for move to up to the bigger parallel above it where look to take profits again and buy back from lower once more.
BITTREX:DASHUSDLong
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