BITCOIN: BTCUSD Never say die
Bitcoin: BTCUSD
The raging beast that is Bitcoin just never quits. It's either positive and rising fast or negative and falling fast. It's hardly
ever neutral though. What more could a trader pray for? Just so long as she keeps moving we can make big returns
whichever way she moves next. Had to leave this at around 1.30 am GMT whilst still in full flow. We'd shorted from 15810
with a stop 60 above - the high was 15858 so it came damn close but was never struck. Some will have closed out on the
first test of the big parallel at 14300 for a 1500 point profit, others still awake for the play-out will have closed out at first
target at 14040 for 1750 profit and then shorted again on break below here by 25 points for the fall to the next target
at 13086 for another 900 points of profit. Below here the next support line lay at 12717 which was struck, but it was
imprecise and the eventual low of this run was actually 12565.
Hopefully most have made at least 1500 points of profit in a few hours trading and some will have 2650 stacked away from
the two big shorts set up in yesterday's comment. We aim to mine at least 1000 points per week from the Bitcoin mine (as
middlemen, efffectively) and hopefully 2000 per week. That way we buy Bitcoin outright at current values roughly once
every couple of months. So far, so good. Just so long as Bitcoin keeps moving we have a genuine chance of achieving this, too.
Right now Bitcoin has made a near 2000 point counter-rally and has now fallen out of the parallels that have guided this
rally and is vulnerable again. We know Bitcoin really likes to double bottom at the end of a real consolidation period and
so rather than buy the rally (too late by far but notice how often there is a change in trend at 5am-7am GMT and often at
12.30am GMT as China opens for business) so will stay flat for now looking for a sell from higher up or if we miss it, a buy
from lower down if we see a double bottom being created at 12718-12558 range later on. More as the move develops.
The raging beast that is Bitcoin just never quits. It's either positive and rising fast or negative and falling fast. It's hardly
ever neutral though. What more could a trader pray for? Just so long as she keeps moving we can make big returns
whichever way she moves next. Had to leave this at around 1.30 am GMT whilst still in full flow. We'd shorted from 15810
with a stop 60 above - the high was 15858 so it came damn close but was never struck. Some will have closed out on the
first test of the big parallel at 14300 for a 1500 point profit, others still awake for the play-out will have closed out at first
target at 14040 for 1750 profit and then shorted again on break below here by 25 points for the fall to the next target
at 13086 for another 900 points of profit. Below here the next support line lay at 12717 which was struck, but it was
imprecise and the eventual low of this run was actually 12565.
Hopefully most have made at least 1500 points of profit in a few hours trading and some will have 2650 stacked away from
the two big shorts set up in yesterday's comment. We aim to mine at least 1000 points per week from the Bitcoin mine (as
middlemen, efffectively) and hopefully 2000 per week. That way we buy Bitcoin outright at current values roughly once
every couple of months. So far, so good. Just so long as Bitcoin keeps moving we have a genuine chance of achieving this, too.
Right now Bitcoin has made a near 2000 point counter-rally and has now fallen out of the parallels that have guided this
rally and is vulnerable again. We know Bitcoin really likes to double bottom at the end of a real consolidation period and
so rather than buy the rally (too late by far but notice how often there is a change in trend at 5am-7am GMT and often at
12.30am GMT as China opens for business) so will stay flat for now looking for a sell from higher up or if we miss it, a buy
from lower down if we see a double bottom being created at 12718-12558 range later on. More as the move develops.
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