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.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.