BTCUSD Bitcoin Key Levels for Wednesday Trades
Bitcoin Wednesday Update Key Levels Today
Altough we made over 500 points on the downside yesterday
and 200 or so on the upside the last long from from 10755
went wrong and we were stopped out for around a 50 point
loss. Sorry for that one.
Bitcoin has since fallen away and back down the same
parallels after making lows at 10400 on Bitfinex in Europe. A
little morning buying interest has pushed Bitcoin back up to
retest the upper parallel and it is trying hard to break above
it now. But it's still too early to think about a long from here.
Need to see it break higher still and reclaim 10625 on Bitfinex
to trigger a long now, looking to buy the next dip once 10625
is beaten with stops 125 or so lower. Until then, no long trade
looks feasible right now.
And on the downside Bitcoin is still stuggling and vulnerable
whilst trapped within the parallels of the impulse wave. A
break below 10400 here by much more than 10 points will tip
it back into bear hands and force it lower still, down through
the blue support lines as low as 9285. A potential long trade
set-up and also a big short if triggered too. The chart will
decide the next move and trade for us from here. We can
follow.
Altough we made over 500 points on the downside yesterday
and 200 or so on the upside the last long from from 10755
went wrong and we were stopped out for around a 50 point
loss. Sorry for that one.
Bitcoin has since fallen away and back down the same
parallels after making lows at 10400 on Bitfinex in Europe. A
little morning buying interest has pushed Bitcoin back up to
retest the upper parallel and it is trying hard to break above
it now. But it's still too early to think about a long from here.
Need to see it break higher still and reclaim 10625 on Bitfinex
to trigger a long now, looking to buy the next dip once 10625
is beaten with stops 125 or so lower. Until then, no long trade
looks feasible right now.
And on the downside Bitcoin is still stuggling and vulnerable
whilst trapped within the parallels of the impulse wave. A
break below 10400 here by much more than 10 points will tip
it back into bear hands and force it lower still, down through
the blue support lines as low as 9285. A potential long trade
set-up and also a big short if triggered too. The chart will
decide the next move and trade for us from here. We can
follow.
Komen:
Well the long was blown away by a massive FUD. Which flipped Bitcoin back to negative and triggered shorts from 10400 back to 9285. If you got short get ready close out soon...and can consider reversing long at 9285 (close above here though) if it starts to stabilise and put up a fight there. Careful. Use a stop under it by 100 or so - it's speccy though - we have to see it stabilise first
Komen:
Bitcoin Update
Positive above the lower parallel and has has 4 small waves down so looking to buy this dip with stops under the lower parallel, which is now forming - should rally to top parallel and come off again
Positive above the lower parallel and has has 4 small waves down so looking to buy this dip with stops under the lower parallel, which is now forming - should rally to top parallel and come off again
Komen:
Last Update tonight.
So far this is just a continuation pattern forming and it is going to break down at some point most likely and take Bitcoin lower still ...that may be soon but can also get dragged out more as the night wears on - so if going long here use a stop and stick it right up under it now at 9810..when it does break the lower parallel and 9817-9800 range at lowest it is most likely going to fall much lower still again. And if 9250 does not hold up at lowest overnight this could crash all the way back to 6k and then bounce back hard to 9285 again. It's really wild right now. Need to be very careful from here now. Strongly suggest we stand aside for now. But if it does just happen to get hit back to 6 look to buy it. Be lucky. And there is always tomorrow. And in meantime Forewarned is forearmed.
So far this is just a continuation pattern forming and it is going to break down at some point most likely and take Bitcoin lower still ...that may be soon but can also get dragged out more as the night wears on - so if going long here use a stop and stick it right up under it now at 9810..when it does break the lower parallel and 9817-9800 range at lowest it is most likely going to fall much lower still again. And if 9250 does not hold up at lowest overnight this could crash all the way back to 6k and then bounce back hard to 9285 again. It's really wild right now. Need to be very careful from here now. Strongly suggest we stand aside for now. But if it does just happen to get hit back to 6 look to buy it. Be lucky. And there is always tomorrow. And in meantime Forewarned is forearmed.