if you are. .. it's come back to exactly the same levels that the Chinese were buying at last night...7077...
put a buy order in at 7090 with stop about 50 points lower and it may get filled later on if it comes back to
make a first before it kicks higher again. If it does and 7077 holds up
the first upside target is 7415, so about 300 points upside and 50 down, if struck and not stopped out. Otherwise, the safer
strategy is to wait until key resistance for the near term at 7430 -7340 has been overcome and then look to go long on next
pull back towards 7430 with a stop justunder 7390 for a 40 point loss before spreads if wrong, but 400 points potential
upside. In nearer term Bitcoin is trying to rally from the start of today's structure at 7077 and then flipping down again at
the 50% mark half way of the day's range. So it's now stuck in the weak half of the day's range, and, interestingly, is flipping
within the same lines drawn only notionally about 6 days ago now and yet still exerting some real power
over short term swings if you've been watching this. Only once it can get above 7430-7440 should it calm down some and start to
regain it's equilbrium and be worth following, as above - otherwise we need to see a forming off 7077 on the
next retest to risk going long, as outlined above.The support lines have worked well so far, with a fall below any listed level
leading to a test of the next listed level pretty much wiithout a miss so far, which is plain weird, but untilthey they stop
working... as above, 7077 is the important support for the near term and into early tomorrow - if broken it falls to
6928-6920 which is absolutely critical support forthe more medium term (in Bitcoin time short/near term is 1 to 4 hours,
medium term is 1 to 2 days - it's a parallel universe, forgive pun) and so if last-gasp support at 6920-6900 gives way at
any point all long bets are off the table fast - it should lead to a collapse back to 6312 at least and quite possibly back to
6165 on a spike at which point althe structure shown on the chart will have been blown away and we can start to build
again. But that only happens if 6900 fails, at which point it becomes a compelling short.it's been a hell of a day and it
ain't done yet. There's 3 more hours to go- and Bitcoin's still up 190 points on the day so far.
Thought we had this thing in the freezer and every time it gets back out wielding a chainsaw: Jaws on crack with
Scarface's personality traits. That was Bitcoin today. And other days she can be so sweet natured. Back on the hunt.