Bitcoin: BTCUSD Breaking out again
Updated
Bitcoin: BTCUST : Update
1.6666 high reached Friday. The same day that the Times (London) printed their first Bitcoin story on their front
page. Bitcoin reaches mums and dads. Even they know what a Bitcoin is now. The same weekend Bitcoin tops out
and loses just under 4000 points. On Sunday morning as the world sleeps at 7.30 am London time Bitcoin triple bottoms
at 13110. Just 27 hours later it's 3400 points higher, back probing the highs and looking increasingly ready to break higher again soon.
Having broken above a rather loosely defined continuation pattern just under the highs, using he support lines now
with uncanny precision as it consolidates again in high ground before pushing higher still. This could be at 20k by
morning, just stay long and if not long already try to get long with stops under 16400 for small loss if wrong from
here (70 points)...look for a rally to the upper parallel. If the stop is taken due to lack of thust in near term we will
look to buy again on any retest of the dynamic support line across the highs today with stop 100 below. (more coming)
*slung back in the slammer again - this time for 3 painful days, for uploading a pretty Bitcoin chart without actually
changing the chart - because it didn't need changing - but that's another rule broken and the mediators show no
mercy to the ignorant. So do you remember how messed up Steve McQueen looked when he finally got out of
solitary in Papillon ? Not good. This medium has the potential to be so good but is slightly flawed for sharing
up-to-second trading information if trading Bitcoin full-on. Best ideas very welcome.
Bitcoin is about to create 1000's of new jobs. Every investment house with an eye to the future as opposed to the past will be starting to run Bitcoin desks once futures start trading...more and more will join until the trickle becomes a flood. Except for Morgans, who we have to accept could well have he last laugh one day. But until that arrives more and more houses will need desks and people to run them: traders. Where will these suddenly appear from? Who has any real experience of the crypto markets? You guys reading this, some of you anyway...some of you will be able to pull down some unbelievable jobs over the next few months if you want to, that is. Some funds and firms will pay massive win bonuses for discretionaries - it would be so excellent if some of you go on to do that at some point. The only really big 'reveal' that you need to keep in mind. the thing that separates you from traders in other, quieter markets, is that pattern is more important than price in cryptoland. You can argue the same applies everywhere to an extent and be right. But it happens almost all the time in this market. Many old-school traders won't be able to adapt. They will need fresh blood...you?
Bitcoin is about to start creating 1000's of new jobs in the 'real' world, outside of mining itself, on top of the many that have been lucky enough to spot a trend and just ride its coat-tails to the point of it going mainstream at least...the point where we find ourselves right now.
1.6666 high reached Friday. The same day that the Times (London) printed their first Bitcoin story on their front
page. Bitcoin reaches mums and dads. Even they know what a Bitcoin is now. The same weekend Bitcoin tops out
and loses just under 4000 points. On Sunday morning as the world sleeps at 7.30 am London time Bitcoin triple bottoms
at 13110. Just 27 hours later it's 3400 points higher, back probing the highs and looking increasingly ready to break higher again soon.
Having broken above a rather loosely defined continuation pattern just under the highs, using he support lines now
with uncanny precision as it consolidates again in high ground before pushing higher still. This could be at 20k by
morning, just stay long and if not long already try to get long with stops under 16400 for small loss if wrong from
here (70 points)...look for a rally to the upper parallel. If the stop is taken due to lack of thust in near term we will
look to buy again on any retest of the dynamic support line across the highs today with stop 100 below. (more coming)
*slung back in the slammer again - this time for 3 painful days, for uploading a pretty Bitcoin chart without actually
changing the chart - because it didn't need changing - but that's another rule broken and the mediators show no
mercy to the ignorant. So do you remember how messed up Steve McQueen looked when he finally got out of
solitary in Papillon ? Not good. This medium has the potential to be so good but is slightly flawed for sharing
up-to-second trading information if trading Bitcoin full-on. Best ideas very welcome.
Bitcoin is about to create 1000's of new jobs. Every investment house with an eye to the future as opposed to the past will be starting to run Bitcoin desks once futures start trading...more and more will join until the trickle becomes a flood. Except for Morgans, who we have to accept could well have he last laugh one day. But until that arrives more and more houses will need desks and people to run them: traders. Where will these suddenly appear from? Who has any real experience of the crypto markets? You guys reading this, some of you anyway...some of you will be able to pull down some unbelievable jobs over the next few months if you want to, that is. Some funds and firms will pay massive win bonuses for discretionaries - it would be so excellent if some of you go on to do that at some point. The only really big 'reveal' that you need to keep in mind. the thing that separates you from traders in other, quieter markets, is that pattern is more important than price in cryptoland. You can argue the same applies everywhere to an extent and be right. But it happens almost all the time in this market. Many old-school traders won't be able to adapt. They will need fresh blood...you?
Bitcoin is about to start creating 1000's of new jobs in the 'real' world, outside of mining itself, on top of the many that have been lucky enough to spot a trend and just ride its coat-tails to the point of it going mainstream at least...the point where we find ourselves right now.
Note
fantastic break of the old high like it wasn't even there. Real power. Now come back to test the old highs and bounce...it's a buy again here on any weakness with stops below the old highs...last chance if not already very long by now.Usual classic stuff again. This thing is still very strong. Look at the chart...
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