Bitcoin. 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.
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.
Komen:
Long ONLY when upper parallel is broken...no spike..some green !
Komen:
Hoping longs will have got in between 14150 and 14200 - can raise stop to 14190 for small loss/break even if wrong from here.- can also close out if day trading at 14539 to 14648 range
Komen:
Day Traders can also use the little support line as exit for longs if the near term upside targets (above) are not hit first
Komen:
Raise stop to 14440 for 240-280 profit if hit
Komen:
This break looks OK ...can buy down to 14570- 14500 with stops just below 14500
Komen:
Bitcoin Update
raise stops on longs to 14695 and to 14645 at lowest for 445-495 win if stopped out from here
raise stops on longs to 14695 and to 14645 at lowest for 445-495 win if stopped out from here