botje11

New High but not looking all that good

BITSTAMP:BTCUSD   Bitcoin / Dollar
It did make a higher high at 7000 yesterday, after the 6700 2 days ago. It even made a new high a few hours ago, but it's not al that convincing yet.
Volume is not showing real strength and there is some divergence. However i don't like using indicators, especially with crypto's. These last hourly candles also don't look all that positive. I am staying flat for now, because i want some clearer signals. The 7350 is an important level now, if this candle or the next closes below the 7350, i will probably go short, but i do want to see a signal on a smaller time frame also.
If it bounces off the 7350 and gets above the 7500, than i will probably go long.
Earlier today i lost some points when i was short and it hit my stop at 7350. It should have stayed under that level for the short term downtrend to stay intact. I am flat since that loss to get a more objective few later on.
Good luck
Kommentar: Big chance it will go higher, the 3750 seems like a good support, but there is no real bounce off it. Wait and see
Kommentar: Still some buying power around 7350. Still waiting for some confirmation
Kommentar: Iam short now, stop at 7450
Kommentar: If it goes below 7300 i will lower my stop to my entry level at for a free trade. To risky all of this.
My guess is that it will drop to around 7100/7150, from that level i will probably go long. I just think it will stay within a range of 6800/7000 and 7500/7700, fooling everybody :)
Kommentar: I have added short just now as it pulls back to the 7350. I will put a short stop on everything at 7400. it should not get above the former support
Kommentar: Moment of truth right now, i think an acceleration will come any moment now, but it can go both ways now
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Lol! Dude...This is how I feel the last 24 hours. What a ride. Are you in cash now?
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botje11 vaskojovanov
@vaskojovanov,
No i am still short on Bitcoin, i wanted to see id the H&S on the 5 min chart would become a false move. My last comment was on that moment, thats why i said an acceleration would come. Now just wait and see. Still strong support at these levels. I am also short on OMG since yesterday, you can see it in an previous analysis
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@botje11, and BTC has gone to the clouds. Now I just wait for the long extended retracement and miss out on the big move before or after the fork.
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botje11 vaskojovanov
@vaskojovanov,
It is still showing alot of strenght, but it has quite some resistence at the top. We will see what happens. There will be enough action :)
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