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Buy-and-sell

Bitcoin for the Weekend - Key Buy and sell LevelsBitcoin BTCUSD Bitcoin rallied to meet the previous peak prior to news of the lastest hack on Thursday night, precisely on Bitfinex chart, before falling away again. Right now it's neutral as we await the next trading signal to trigger as Bitoin moves towards the apex of the triangle and hopefully reveals its hand so we can trade off that signal when it arrives. If at any point the lower dynamic support line gives way and then 11100 breaks Bitcoin will likely turn negative and trigger a short back to 10750 at least, and if this gives way back to 10497 where it will become a buy again if touched later today. And on upside it has move up above 11230 to trigger a long with stops under 11100 - resistance levels at 11336 and at 11438 then need to be broken and only when we see this will Bitcoin begin to attract more buyers again for move up to 11646 and on up through the restsance levels above it to an upside target at 12950. It's still positive whilst above the big rising dynamic but slow and lacking interest, and hence neutral now. So we await the next signal for the next trade here, as above.
BITFINEX:BTCUSD
by sumastardon
1
Bitcoin: BTCUSD Still trying to make its escape even nowBitcoin: BTCUSD The big lower parallel came to Bitcoin's rescue and gave as good reason as any to close out shorts from here...but it didn't quite hit the line perfectly, which was then lying at 12028 - the low of the day was in fact 12050 - so quite close, 22 out, but no cigar. If you managed to get out and switch long close to the lows you therefore did really well. We were then looking to switch long to 12480 for about 400 points - but should have stayed much longer (in hindsight) as Bitcoin went on to rise by another 700 points or so. Not good. But OK in tricky conditions. Right now Bitcoin is busy hammering out a little flag with 2 strikes on the lower line. If this can hold up and not revisit the lower parallel now Bitcoin will stand a chance of another temporary escape - but to do so it will have to break above 12987. Only then would it worth risking a long for 500 points to 13480. On the downside the lower small parallel of the putative flag formation has to hold up at all costs now to stop Bitcoin falling away to 12301 -12255. If this then fails it will fall at least back to the low at 12050 and more likely lower still to 11923 and to the big lowest parallel at any selling extreme. At all costs the lower big parallel must continue to hold this decline or it will go into a bigger tailspin. And should it fail and then 11090 fail to hold at any point over the weekend it will tip Bitcoin further into very negative territory, forcing price lower still, to 10486 to start with and then, once this fails back to 8342.
BITSTAMP:BTCUSD
by sumastardon