PLUS
$DIS: America's Sweetheart is WobblyLabor shortages, increased streaming competition, sub par content as of late. Will value investors step in and save it at 170 or is this a major crossroads in the future of this giant. The bullish case here mostly lies in whether or not inflation will persist. If we see the dollar continue to improve, value names may be on the table which will involve this getting snapped up. However, if inflation is persistent it may be a huge struggle to retain labor and could put a dent in streaming profits
Bitcoin/Gold M Ah! "capitulation" LMAO A look into monthly chart confirms that we are way far from a bull run. It is also pretty evident based on volumes and candle rejections that we didn't see yet any meaningful signs of capitulation.
There more downside ahead. Perhaps a strong support at the next technical level wich also coincides with marginal cost of production less hardware costs price zone.
1300k Price range support seem crazy think about but just notice volumes at early stage of previous bull If we get under 3k we could see massive shake off pushing towards a potential capitulation.
Bitcoin: BTCUST Bitcoin Spreads Her Wings+Which Exchange is BestBitcoin: Which Exchange is Best/Most Reliable for trades, stops, and signals? (next buy-points at bottom)
Bitcoin Update Coinbase/Bitstamp and Bitfinex
The ridiculous situation of multiple prices across multiple competing exchanges has once more caused chaos with stops yesterday if they were raised too tight under 9900. The subsequent low on Coinbase was 9914 and was 9902 on Bitstamp - but on Bitfinex it was 9874 which was just crap. Mofo. Sorry for that if you traded this exchange. Coinbase levels have been most reliable for trading signals and stops and Bitstamp too. This constant change is maddening - for all of us and entails twice as much work as simply following one feed as well as the futures market too. For sure Coinbase is less whippy than Bitfinex or Bitstamp and so is better for placing stops - look at the smoothness of the chart on 5 minutes here compared to others - and yet the highest price achieved today was 10307 on Coinbase compared to 10300 on Bitstamp and 10271 lowest high of the 3 on Bitfinex. So Bitfinex loses on best price achieved and Coinbase wins with Bitstamp in middle. The lowest lows of the day were once again made on Bitfinex at 9670, whilst Coinbase had the highest low of the day at 9729 with Bitstamp in the middle again at 9707. Once again Bitfinex loses with Bitstamp in the middle. And then the last raised stop yesterday at 'under 9900' - if you were unlucky enough to trade Bitfinex and had it closer than 25 points under this level it got taken - and yet on the other 2 exchanges the stop stayed good. So yet again Bitfinex fails on every level. Coinbase is best right now, with Bitstamp in the middle and Bitfinex a sorry third.
So am quitting Bitfinex as it's too treacherous with stops. Volatility can can ruin decent calls with 'good' stops. Coinbase is the least volatile, so better for stops, usually.
Last Update: 16:34 est
Anyway, for traders on the less volatile 2 out 3 exchanges who are still long, Bitcoin still looks just fine whilst it holds up above the bigger dynamic and can let it run and raise stops under the next correction low when we get it, except on Bitfinex which probably needs stops at least 50 below/above any similar stop on Coinbase to stay safe. Still believe there is much more upside to come whilst Bitcoin holds that upper dynamic support.
Saturday Update: Bitcoin Spreads her Wings
Bitcoin has had another positive session overnight as Far Eastern buyers begin to return to the market. FUD is so last year. Bitcoin is up 2000 points since the break at 8888 and we were lucky to get both that initial break and the lows of yesterday at 9700 to get long again if stopped out at 9900 on the first long. Every point of upside from the lows so far has been traded and won. We also shorted right down to the exact lows and actually closed out right on the lows of the year before going long again at 6200. Every point of the rally from 6200 to 10800 has been traded and won despite a brief wobble at the 9000 level - but even that break out at 8888 on Coinbase chart was followed and traded faithfully as the patterns on the chart dictated. And the pattern on this chart is saying 12192 minimum over the next 2 to 3 days. In very near term it's had a good run overnight and has hit the resistance line at 10829 after making a high at 10890. It's now unwinding a little but using an old dynamic resistance line as a support as it does so, line-dancing Bitcoin style. Whilst it holds up off that line it's strong still but whilst unable to beat and regain the blue line at 10829 and on up to the new day's highs at 10890 it's effectively in neutral in the very near term- but still with a strong undertone. It can spend some time flipping between the dynamic at 10648-10586 as support and the highs at 10829-10890 as resistance but will ultimately break to the updside. And on downside it will have too break below 10586 to trigger further selling back to 10307 support line where it becomes another buy.
XBC TriangleJust to give a clear indication how this consolidation is working out over time. Bitcoin Plus peaked very high and the team says it has picked up active development again, wanting to advertise and growing the userbase. Some updates are already being done and others are being voted for, which are slowly enrolled. If the coin takes off similar to Pink, we could see a 111% increase to retrace. The other possible retracements are also in the chart, so keep an eye open for 16 May.