Bitcoin: BTCUSD Grinding Higher: Stops for day traders

21. Nov. 2017

Bitcoin Update
Grinding higher still. Day-traders can raise stops to just under
8230-8320, under the small dynamic underpinning today's
rally. If this line fails Bitcoin should fall back to 8005 where it
becomes a buy again with stop under 7970.
Swing traders and long term holders stay long, as below.

21. Nov. 2017

Anmerkung

Bitcoin Update
Daytraders who used the little dynamic which had supported
the day's rally with such precision as an exit around 8270 have
been spared a miserable couple of hours and live to fight
again from lower levels.
The last comment suggested getting long again at 8010 with a
stop 40 points lower...don't like it the shape though,
and now it's breaking lower as this is written. Prefer to wait to
see if 8000 breaks and Bitcoin then drops further to make a
double bottom at 7800-7717 range, looking to buy here if
touched with stop below 7660.
breaking down...a short back to 7800-7717 now and then a
buy at that range with stops as above

21. Nov. 2017

Anmerkung

21. Nov. 2017

Anmerkung

Am selling from 8050-8080 range looking for 7780-7717 range to reverse, if hit

21. Nov. 2017

Anmerkung

Dropping stop on short to 8090 for 30 loss if wrong....it's tracking an acute pair of parallels and will turn bullish again if it can find enough buyers to break above the upper parallel...

22. Nov. 2017

Trade ist aktiv

Bitcoin: Update.
So now Bitcoin has gone as boring as watching a Jose Mourinho
team try to play football.
The green arrow shows how turgid and demoralising a break
from a steep parallel can be...but eventually it gets a break
up after a painful period of messing with heads. (Like Jose).
Anyway the break is low volume and we need to watch our
backsides still. Initial resistance at 8220, then 8250 and then
8310. It's likely to be a grind, but at least with a north
bearing. Stops for longs under 8160 for now.