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BTCUSD: SundayTradesBitcoin Bitcoin Sunday Update Sunday Trade Points 16:40gmt/11:40est Since breaking higher on US opening interest Bitcoin has surged above the small dynamic and triggered a quick 140 win up to 8600 in the process - but the rally has been short-lived and was quickly sold above 8600, bringing Bitcoin back down towards the first support line at 8450 again. It's a speculative buy again here with stops just 25 below for smallish loss if wrong from here. 11:33gmt/06:33est Overnight Bitcoin has fallen to a low at 8364 on Bitfinex which is 26 points shy of the downside target at 8337 before rallying. The lows on Coinbase and Bitstamp were 8400 and 8398 respectively, quite a big difference. After a challenging Saturday Bitcoin is trying to build a base come Sunday morning. But it's still vulnerable whilst unable to break above 8600 and until it can find buyers enough to break above here and to trigger the next swing long Bitcoin is likely to range trade between resistance at 8600 and support at 8450 with day traders selling off 8590 with stops above 8600 and trying to push it lower. But it's not reacting much and no great sell stampede is being triggered as yet. Despite near term downward pressure Bitcoin only turns back to full-on negative again if 8245 is broken at any point later today, so it's only at that point that the next swing short will trigger, targeting 8047 initially and then, after a bounce there, back to 7525 On the upside, in very near term, there is a tiny dynamic holding back price to the upside which day traders are using as a stop line for shorts so far today. A break above the line, now at 8460 will trigger a fast 140 point surge to 8600 where it should pause again and come off some more. For it to turn back to positive today and to trigger swing traders back long from this point Bitcoin then has to break above 8600 and hold on Bitfinex to trigger the next swing long from here, looking for a rally to 8777 initially and then, after consolidating some, a move higher still to 8995-9094 range. But until that little dynamic above price is broken to the upside Bitcoin remains vulnerable to further selling near term pressure. *For fastest Bitcoin updates on weekends please see top-left of main page for link
BITFINEX:BTCUSDLong
by sumastardon
8
FB: Facebook Life and TimesFacebook:FB Life And Times This chart shows Facebook from it's IPO to the present. In less than 6 years FB has risen from an all-time low just under 18 to an all-time high at 195. Once or twice per year it usually makes a rough 20-24% correction - but, as with so many stocks, has not corrected properly for over 18 months now, ever since the election surprise.There's a gap on the chart at 155.5. Taking 20% off the top gives a 156 target which is also structure highs to left of price on chart, so there is a a good chance it will find support there when touched. Providing it steadies here and starts to fight at 155 it should start to rally back to 164 before it comes off again. If wrong here and the upper range of the structure to left is not strong enough to support FB come Monday, it will most likely spike lower still to test the lower end of the same structure at 145-144, offering a potential entry point with stops under 143 if we see it this week. Also worth noting: there has only ever been one violation of the long term trend line/lower parallel - for one day. All tests of this line have been longer term buying opportunities, even that scary-looking one day violation.
NASDAQ:META
by sumastardon
3
Bitcoin: BTCUSD - Consolidating recent gains: Next Trade Point Bitcoin BTCUSD Tuesday Trade Points Price action since Sunday's break out has been listless and lacking any real direction. However there is still bull evidence mounting - firstly it has not broken down completely after losing the supporting dynamic yesterday, but has instead formed a continuation pattern on top of yesterday's flag, using the same lower parallel as support. That shows underlying bullish intent is still present so far. But for that to be confirmed we need to see it break above the upper parallel - if we see it we can follow long again with stops under the same parallel by 50 points or so once broken. Until that happens and it remains within the pattern there is no clear trade right now. On downside, should the lower parallel of the continuation pattern fail at any point today Bitcoin should start to fall away further and becomes a short once more with stops 50 or so above the central (of 3) parallel which lies at 8300 right now. At some point fairly soon we should get a signal worth trading again. Until then Bitcoin belongs to the bots and day traders trading between the parallels- and even they are finding it difficult now. Patience. The next trade is getting closer by the hour - we often see an upward burst at 12:30-15:00 as US wakes up but we really need to see that upper parallel broken for confirmation that Bitcoin is still positive and to follow long again from here.
BITSTAMP:BTCUSD
by sumastardon
6
Bitcoin: BTCUSD Next Key Trade Points for Sunday TradesBitcoin Trade Points for Sunday Trades Update: Bitfinex Feed 12:27gmt/07:27est Bitcoin is really trying to break the downtrend here - a bear engulfing green ...can buy or add once it's broken through to upside if we see it. It's tracking a narrow corridor/band of uncertainty right now, trying to figure out he next move - cannot be trusted for sure as a result but it looks to be trying for the upside now, at least. Use a stop and try to run it up if possible if this break does actually materialise from here - it may not be possible except in head, but watch for a failed break - this time last week in 10 minutes'time we got an amazing burst upwards if you remember... It's Bitcoin - anything can happen anytime. That's half the fun, isn't it ? Downside potential still as comments above Sunday 10:32 gmt/05:32est Update Bitcoin Sunday Although Saturday was a slow day again we did at least manage to squeeze 310 points on the first short and then 200 or so on the counter-rally long before getting stopped out. Overnight Bitcoin has fallen to the next downside target at 7547 making a new low for this decline at 7550. If you were up and around for that move too then you've had a very profitable Saturday. Some people still have to work for a living...whilst others play Bitcoin. Those with long memories will know that 7547 was the most likely downside target mentioned back in the mists of time, nearly 2 weeks ago now. But the overall pattern is still bearish nonetheless. If you reversed back long at 7550 you have traded brilliantly and don't need much help or much guidance here any more. But the rally from the downside target has been feeble so far and if long here you'll know already that this is still high risk (but still the right trade as the stop can be very close to entry, just 20 or so under 7550 entry, so low risk but potentially high reward). It can easily come back to the low again at 7550 but it has to hold up here for any failure to do so at any point today by more than 20 points will flip Bitcoin back to negative yet again and force it lower, most likely to the next support line at 7221 and then, once this gives way, back to 5915 on Bitstamp where we will probably look to buy again if price action allows. Returning to the upside Bitcoin is tracking within a small parallel and cannot be bought again from here unless it is broken above - and only then for a spurt back to the bigger dynamic waiting above it at around the 8079 level. As things currently stand this level is the key to the upside for Bitcoin over the more medium term. It has to break and hold above here for the bulls to regain any real control. Once again, even if that looks unlikely right now, we still have to be prepared for any eventuality. It's Bitcoin, after all.
BITFINEX:BTCUSD
by sumastardon
Bitcoin: BTCUSD Saturday Trade Points Bitcoin: BTCUSD Next Trade Points Saturday Yesterday's price action has created another bear flag, smaller in scale than the one sitting above it, but so far quite simailar. It looks to be better defined than the last one which hopefully will create a signal worth trading off when it comes... The overall pattern is still bearish so the break, when it comes, should be downwards. But this is Bitcoin. We need to be ready for either eventuality this weekend. On downside a break below the lower parallel of the continuation pattern at 8070 will flip Bitcoin back to negative again and it should then begin to slide away further to 7700. Any failure to hold this level during the course of this weekend would then be likely to attract even more bears out of the woods and force Bitcoin back down through the support lines to 7547, then 7221 and then right back to 5915 on Bitstamp. Worth following once 8070 gives way with stops 100 or so higher. On the upside Bitcoin has to break and hold above 8460 to trigger a long up to 8847 initially, then a second long from 8855 to 9360-9467 range. Any such upside price action can be followed if we see it. It may look unlikely. But we still need to cover it just in case.
BITSTAMP:BTCUSD
by sumastardon
3
Bitcoin Futures Chart Update: BTC1! Next Trade PointsBitcoin Futures BTC1! CME Near Date The futures chart is showing some of the clearest trend lines at moment so is worth a look. Price action yesterday has not helped the bull cause. The chart shows Bitcoin is still in a very precarious state. Yesterday's fencing battle with thrusts upwards and spikes down was by turns dreary and stultifying and mixed with moments of excitement that untlimately led nowhere slowly. Although there is minor support at 8570 here it is not likely to hold up for long. No evidence of human activity now, just bots battling in no-man's land. After yesterday's small-scale roller- coaster ride of flips and false breaks not even day traders are showing much interest now. But the Bots have won a hollow victory in near term. They've effectively scared the market to a near stand-still. Once bitten, twice shy. Another test of 8286 line looks likely here soon. Although it should try to bounce from here the overall pattern is suggesting that this level will break eventually and trigger a short to 7619 initially. In turn a break below here is likely to lead to a retest of the lows at 5950. On the upside any rally from here is likely to get rejected by the dynamic now forming from the last rally high. Cannot think about a long from here unless 9300 is retaken and held by the bulls. That would turn Bitcoin back to positive again and can be followed if we see it happen. It looks unlikely now but we still need to be prepared for both eventualities just in case. But until we get a clear signal as above the best course of action right now is to keep powder dry and try not to get sucked into false breaks in the meantime.
CME:BTC1!
by sumastardon
BTCUSD Bitcoin Weekend Trade PointsBitcoin Saturday 9th March Next Trade Points Overnight Bitcoin has rallied to the next line of resistance listed at 9493 with an overnight high at 9506 reached at the now customary 06:00gmt/01:00est turning point, before falling prey to profit takers once again. The break above the holding larger parallels was an encouraging signal for the bulls in this argument. But the overnight rally didn't carry much serious intent with it and didn't create much interest really. We did get a second chance to buy at 9000 though and the run up to 9496 was worth another 500 or so points so if you stayed with this through a slow Friday night you at least got some reward for that patience. But Bitcoin is still stuck within a continuation pattern as a result of last night's price action. Now it falls to Europe and then the US to keep the bull flame flickering today. Since 06:00 gmt it's spent 3 hours or so drifting back downwards. There looks to be 2 potential buy points from here. The first is from 9012-8951 range if we see it come off further from here during today, looking for an entry off the lower parallel of the continuation pattern with stops under the same line. The second buy point will come once the small falling dynamic from the overnight high has been broken through again to the upside. If we see this materialise we can follow long or add with stops under the dynamic. It's the weekend and longs are going to need a volume surge to accompany the break higher if it's to be trusted. If we don't see this be very careful with any longs. We could well see a failed break without some decent volume behind it. Initial resistance at 9500-9510 and the upper parallel of the continuation pattern, then 9831 and 10112. To really start to rally hard Bitcoin will have to break free of the continuation pattern it's being held within, busting through the upper parallel. But it's the weekend and it will need some serious buying later if this is to materialise for us. Looks unlikely right now but if it does happen today at any point we have to follow/add, with stops 50 or so below the break line/upper parallel. It may be unlikely but it's Bitcoin. We have to be prepared for all eventualities, even on a weekend. Returning to the downside: we have a bunch of tiny spikes forming above price on the 15 minute chart but there is no selling pressure, more lack of interest. It can drift lower as a result, back to 9000-8950 but it must hold up here, off the lower parallel if Bitcoin is to stay positive today. A fall below 8950 would tip Bitcoin back into bear hands again and likely force it back to the 8784 line again at least and more likely back to 8356 where it should begin to rally once more. The 8356 line is now critical support for the bull case. Any failure to hold at any point over the weekend will create another run lower, to 7835 at least and more likely to 7547. This looks unlikely at this point though, so long as it remains a FUD-free weekend.
BITFINEX:BTCUSDLong
by sumastardon
26
BTCUSD: Bitcoin Friday Trade PointsBitcoin Friday Update: Next Trade Points Overnight Bitcoin only managed to rally as high as the previous low at 9453 in this run and never stuck the final short stop which was just above 9500 before falling away another 1100 points to make a low, so far, two support lines lower on this chart at 8422 after a new intraday low at 8370. Once more we have the spike low at 06:00 gmt and a secondary low at 09:30gmt. That 'sketchy' lower parallel drawn out yesterday actually proved the perfect near term down-side target as it struck the junction of the parallel and the fixed support line at 8356 at the now customary 06:00 gmt low. If you managed to close out shorts there or on the secondary low off the line at 8356 around 09:30 then you have traded very well indeed. Hats off to that. We've had 4 waves down and yet again another near term double bottom so there is a chance that it could find bottom here. But upside is being held back by the 8736 line now . If still short lower stop again to 8915 or can close out here around 8600. The next short triggers on a break below 8350 for a move back to 7835 and potentially to 7547 on Bitfinex feed.. Upside Bitcoin is trying hard to rally but it feels like bots here just grinding through sell orders right now. It will have to break above the 8744 line for a quick rally to the 9012 line and as high as the upper parallel before it falls away again. Day traders will likely take that trade but swing longs are going to have to stay patient until the upper parallel is broken through to the upside. If we see it happen today or into tomorrrow we can follow with stops under the parallel or wait for a successful retest from above once broken if preferred . But until then it's really a day traders' market now until we see the low broken on downside or the upper parallel broken on upside.
BITFINEX:BTCUSD
by sumastardon
9
BTCUSD Bitcoin: Double Bottom Overnight - Thursday Buy PointsBitcoin BTCUSD Near Term Neutral but buy the Break higher when it comes... Overnight Bitcoin did eventually break down out of the continuation pattern it was tracking and began to fall away again. It came right back down to retest the lows again but it held up, creating another intermediate double bottom, showing loss of downside momentum and that it was safe to buy again with stops under the lows. Bad timing for this to happen overnight as it was a fine signal to trade off. Such is the life of a Bitcoin hunter. Sometimes. If you were around for the double bottom and were able to reverse or just get long again from there you did very very well. So day traders have had the best of it for the last 24 hours or so. Bitcoin is now probing resistance from the upper parallel of the new continuation pattern it has started to form overnight as well as fixed resistance at 10108 on Bitfinex. It's therefore vulverable right now and day traders are closing out their longs at the obvious spot, looking to buy back from lower again or if that trick fails, they will buy again once 10120 has been broken above for move to 10448 and then 10680. We can follow that break higher when it comes. Until then we watch and wait. No point in chasing this from here yet. But technically it has made a double bottom now. All it needs to do next is break above 10120 to confirm the double bottom and also a higher high. Until it does Bitcoin is effectively range trading. Useful for day traders but not for the rest. We will follow long when we get the signal with stops about 100 lower or consider buying from the lower parallel if retested soon with stops below the parallel.
BITFINEX:BTCUSD
by sumastardon
8
Nasdaq 100 Index Potential Trade Points for Week AheadNasdaq 100 Index NAS100 The gyrations of February have created some interesting patterns on Nasdaq. After rallying to double top around 7000 it has subsequently fallen away to create a continuation pattern under the high, finishing the week by closing at the upper parallel of what may be a bull flag in formation. For that to remain the case Nasdaq has to push on higher from here, up through the uppermost small parallel of the potential flag. And that same parallel has to hold up on the next retest from above if and when it is broken above. If it can manage this then the pattern changes from negative/vulnerable to positive. If we see it happen we can follow long again. But until we see this price action materialise this index is still vulnerable and whilst unable to burst higher from here is therefore liable to fall away again on lack of buyers. If so the next question/clue will be: can make a higher low at around the 6694 line ? - that would be first bull signal - and the second would be breaking back above the upper parallel and holding on retest (above) - if so, it can be followed long. Worth watching in the opening 30 minutes or so of whipsaw as the market opens - we may see a chance of a long emerging as the dust clears a little 30 to 60 minutes in. If so it should re-visit the highs again at 7000-7035. A move above 7045 would in turn be another very bullish signal, suggesting further medium term strength up to 7660 and nearer term strength to 7246. However, until Nasdaq can make this break higher it's still vulnerable to a potentally large sell off again. Near term support at 6775, then 6994-6687 and last gasp for the bulls from here at 6614. It must hold up here during the course of this new week if it is avoid a further and potentially steeper decline back to 6371, presenting a good short if we see it develop at any point over the next day or two.
FX:NAS100
by sumastardon
Bitcoin BTCUSD Next Buy Points for MondayBitcoin Monday Update Next Buy Points on Monday Those that ran a trailing stop 50 or so points under the little dynamic supporting the lows of the day yesterday will have been stopped out around 11500 for 400 or so points profit. 4% returns on a slow Sunday is not bad but it was a hard grind battling against the bots. Bitcoin has encountered upside problems all night long, unable to push above the rising parallel which it lost yesterday morning and has struggled beneath it ever since. It topped out at around 04 est /23est and has since started to form yet another small continuation pattern below the same old parallel. Once again Bitcoin is trying to form yet another a bull flag now. To stay good from here it has to hold up off the lower little parallel of the flag formation and start to rally from here again - this is a speccy buy off the lower parallel with stops under the same parallel for a small loss if wrong. Otherwise we wait for the upper parallel to be broken on the upside to follow long again or add. We know this process can be mercifully quick if the flag is to stay good from here - and if not and no buyers appear soon to take the price back up it can drag on for hours more yet and start forming a longer-lasting continuation pattern as yesterday. And as yesterday, and most days recently, we need to stay patient, but ready to act when the signal we are waiting for is given to do so. Downside is being constrained by the lower parallel of the embryonic flag formation - Bitcoin would have to break below this line to turn negative again from here - so cannot be shorted unless we see this parallel fail from here.
COINBASE:BTCUSDLong
by sumastardon
24
Bitcoin BTCUSD Still Positive Today: Next Buy PointsBitcoin BTCUSD Saturday Update/Buy Points After another 15 hour period of dreary consolidation lasting through the European session and right through the US session to the close Bitcoin finally bottomed right on the low point forecast for the day before the rally we spent all day waiting for finally kicked in. Patience was finally rewarded as Bitcoin began to push higher again into the far East session, rallying to an overnight high at 11419 before the customary 06/01est sell off. Later today it should push higher still to test 11790. In the meantime though, it can spend quite some time moving sideways once more, using the 11192 line here on Bitfinex as support as it does so - and can come back to the parallel underneath it at lowest to stay good from here today for the rally to 11790. This process may be mercifully short - but it could also last several hours as it did yesterday. We need to be prepared for both. Look to enter long if not already from 11192 -11050 range (with stops under 11000) or can add/enter long again once 11430 has been broken above for rally to 11790 where we will look to close out and maybe reverse short if touched later on - depending on price action when we reach the upside target. More as this move develops. Whilst Bitcoin remains within the parallels guiding this rally it remains overall positive.
BITFINEX:BTCUSDLong
by sumastardon
11
Bitcoin: BTCUSD Still Positive: Next Buy Points TodayLatest Update 11:00est: Bitcoin is still positive and a near term buy on retests of the smaller dynamic underpinning the day's rally towards the blue support line at 9960-9940 with stops below 9900. Also raising the stop here to just under 9900 on current longs on Bitfinex to trap in 100 + points if it gets struck (day trading). The other choice for swing traders is to leave the stop just under 9800 for break even from here. The overall trend will remain positive whilst Bitcoin remains above the larger rising dynamic it bounced from earlier and that we used for this original long entry. Last Tv Update, yesterday: If it loses the main dynamic it will unravel a little but looks unlikely to break below 9496-9450 levels if it does - there should be a lot more upside from here though. How you prefer to trade it up to you. But for the forseeable future this is a buy dips market. That only changes if the lower larger dynamic gives way at any point from here. 1st Update today 05:05 est Some swing traders will still be running the long and using the bigger dynamic as a final exit (as per Tv updates). If so stay with it. If not and looking for the next long from here, we have a chance of a trade from here at 9740-9700 if using a stop below the dynamic which is at 9700 now for smallish loss if wrong here - otherwise we need to see the upper parallel broken on the next rally to follow long again, with stops below the dynamic, under 9700. So long as Bitcoin holds up off the largest upper rising dynamic that it is closest to now (at 9700 now) the trend will remain positive and swing traders can stay long. And if this line gets broken at any point today the 9496-9450 range must hold up to all challenges from here to stay bullish overall. Update 09:31est today Can raise the stop on this long to just under 9800 for small win/break even from here. Some traders are happy with 200 points per day so that over 5 days they make 1000 or so. All depends on profile - some are big game hunters and swing traders and some are shorter term scalpers. There is no right way, just the way that suits your temperament and time available best - it takes every type to make a market...
BITFINEX:BTCUSDLong
by sumastardon
Bitcoin BTCUSD BReaking Out Again - Next Buy PointsBitcoin BTCUSD Next But Points for Sunday We got another attempted breakout around 17:00 est which was enough to trigger a long shot as Bitcoin moved above the central parallel (it was the upper line at this point in time) at around the 8380 level on Bitstamp. It then moved up to the test the first line of resistance at 8545 and a just above before it once again failed. Not great. But stops should have been moved up to at least break even and really should have been moved up to just below 8500 here to protect the position. Now we have a another break out just underway. Buy again with stops under the parallel or can wait for a retest of the parallel it has just left - need to see some volume pick up and then once it breaks above 8170 it should attract more buyers still.
BITSTAMP:BTCUSDLong
by sumastardon
2
Bitcoin: BTCUSD Trend Positive - Next Buy Points this WeekendBitcoin BTCUSD Weekend Next Buy Points An excellent 1300 or 16% rally on Coinbase with an early break-out at 6.30 gmt at 7950 level yesterday (compared to Bitfinex) has taken Bitcoin to the 9061 line overnight before topping out 24 hours later (at 6.30gmt this morning) as profit takers moved in. The lower parallel was broken soon after at 8885 and all longs stopped out at around that point - for 935 points profit from trigger-in to trigger-out. Just so long as Bitcoin keeps moving we can scalp her both ways too...Some will be getting the hang of this better than others and some are psychologically OK with shorting and some are not. If we can view Bitcoin dispassionately (as a surgeon views a body on an operating table, for example, and not as something we love - or hate) - we can make points both sides of the argument. So you all know by now how Bitcoin behaves and most don't even need any help with it any more (excellent) - as it breaks out of the parallels it loses buying interest (the world and his dog have seen the same patterns develop too). Sometimes the break is clean and fast, as this morning, and sometimes the break down is followed by what appears to be, at first at least, a failed break, as Bitcoin then tries to rally again back up the underside of the parallel it has just lost...it can even double top or reach just below the previous high...and then falls away again as it should. The exact opposite of a failed break upwards when price breaks the parallel to the updside and then fails to push much higher to begin with, forcing price back down the parallel it's just broken above, often as low as the last low at lowest, before it starts to rally as it should when it leaves a continuation pattern. The exact opposite. Just studying breaks (up and down) and their nature will earn you many fortunes over a life-time. The exact same principles apply whether trading Bitcoin (super fast) or the Dollar (super slow), or any stock on the market. So now Bitcoin has busted the lower parallel and triggered a short with stops above the lower rising parallel if so minded. Can stay short until the dynamic holding down price is broken to upside. Those looking for the next long from here need to see this same dynamic broken to upside too - it must hold up on any retest or it will fall away again back towards the lows it has just finished making before it rallies again (as explained in reverse for a break lower). So try to use a stop and always watch the break (up or down) carefully...is there an increase in volume apparent, if not it could fail so be ready to cut and wait for next signal if you see this - do not start waiting and hoping the chart is wrong and your heart is right. Follow the chart and not your heart and you will learn to trade like a hardened Wall St professional. But without having to leave your house.
COINBASE:BTCUSDLong
by sumastardon
1
Bitcoin: BTCUSD Looking Up Again...Next Buy-Points Today Bitcoin: BTCUSD Looking Up - Next Buy Points Today Having spent the overnight session in far East with no buyers or real interest Bitcoin drifted as a consequence. But the good news was it didn't crash ...that is a massive positive sign that whilst it was getting tired overnight, it wasn't getting rejected and sold off - just neglected more than rejected. Good for the bulls here. Overnight it has also completed a 4 sections down move, similar to previous down-moves in this run though not so well defined as the last couple, but still similar. And now in London it has been bought once more. Usual 'Tokyo Drift' overnight then met with some serious buying out of Europe at 8.30 utc. This break-out, although consolidating now, is a good one by the looks of it. To break out from here and try to leave all the structure to its left is the first really bold move Bitcoin has made for a couple of days - all price action up to this point has been consolidating in nature - it's done well and the bulls are beginning to win this 800 point argument that's been raging for these last 2 days. But right now it's showing spikes on the 15 minute chart on Bitstamp and is liklely to come off some more - the pattern we were looking for has emerged overnight and been broken decisively to updside by this morning's price action - if day trading you will probably have already bought the break out and now will likely have sold (spikes showing and it's hit clear resistance line on Bitstamp too) If so, good trading! And if not, it's OK too, it's been and gone and there will be another one coming soon - and so we look to buy the dips again
COINBASE:BTCUSDLong
by sumastardon
1
S&P 500 Index SPX Next Buy and Sell Points TodayS&P 500 Index SPX Next Buy and Sell Points Today A poor call on this index yesterday led to the loss of some 12 -15 points as the buy point at 2627 was broken and the stop at 2614 triggered. It wiped out the 6 point win earlier but at least the 60 point win on the short on Moday and the next 60 points or so from the long on Tuesday means the point tally for the week is still positive, if a little depleted. Yesterday's price action has driven the S&P to a new closing low, taking it back to fill the little gap that shows on this chart at 2584. A 10% move from the top = 2585, the low yesterday was 2580. So long as this low holds out today on any retest this corrrection remains a standard deviation - but the low at 2580 must stick now for the medium term trend to stay positive from here - any fall below 2580 by more than 4 points will tip this index back into bear territory and force it lower to 2543 (first short) and then if this level breaks to 2488 (second short). On the upside, whilst stuck within the range and below 2619 it's not giving a strong enough signal to trigger a trade...it has to break above here and hold there to trigger a rally to 2668 which should be worth following with stops just under 2600. Alternatively can be bought at 2607 current levels with stops below 2600 and added to once 2619 is broken above. This is higher risk but also higher reward. Others will prefer to wait for next signal to trigger before entering positions.
SP:SPX
by sumastardon
1
S&P 500 Index: SPX Next Buy and Sell Points TodayS&P 500 Index Update Next buy and Sell Points Yesterday the S&P fell 5 points shy of the next target, busting out the next long as support and stops just under the 2715 break line were hit and so turning a 12 point profit into a 2 or 3 point loss. Not so good. It looks as if it will fall further now to retest 2669 and maybe spike as low as 2661 level but should bounce from there at lowest if it is to show stabilty today. if wrong and this 2661 level fails to hold up later it will likely fall away further to 2626-2600 range where it becomes a buy again with stops below 2590. So far this decline remains a standard correction or deviation of 10% - 10% off the top = 2584, the low was 2592 - and it can at worst fall 11% to 2555 but no lower if this is to remain a 'standard' correction. Should this level fail at any point this week it will tip this index into serious bear territory - the decline will then likely extend to 2584, then to 2545 and then to 2488 where would look to buy once more if this kind of price action unfolds from here. Don't think it will so far, but we still need a plan B here, just in case.
SP:SPX
by sumastardon
Bitcoin: BTCUSD Next Buy and Sell Points todayBitcoin BTCUSD Update Next Buy and Sell Points We left this overnight waiting for the 4th break lower to hopefully develop a double bottom to show loss of downside momentum and looking for the rally to recommence from there. Interestingly - for some at least - the low was actually also the tiniest of gaps which was created (green arrow) on exit of the last smaller continuation pattern from the night before last - so small...but it got filled precisiely. So the tiniest of gaps was not 'forgotten' - Bitcoin came back and painstakingly filled that gap, and then with the crack in the wall filled, it moved on up again. Where this kind of behaviour is quite normal in a major market index like the Dow (which closes each day to create gaps) it is highly unusual in Bitcoin (it never closes, so why should there ever be a gap?) But the gap is there, small but clearly. And Bitcoin just had to fill it. Since then it has rallied 800 points back to test 8332 resistance line and is once more consolidating. Price action is quite subdued though - it did get bought in London again but not aggressively. So now it's coming back towards the dynamic in a three or four-wave move most likely which can be bought again if not long again already on exit of the upper small parallel for rally back to 8332-8350 and then, once passed, to 8550-8650 range. Bitcoin has to break above 8650 for the next part of the rally to take shape and to follow for higher prices still ahead. On the downside the dynamic running under the lows overnight must hold up to all challenges from here. Any failure will be the first big hint today that upward momentum is waning here- not much buying intent so far...so this is not not particularly strong yet, but also the decline overnight was not a collapse as it could have been - so it's pretty neutral right now but still with an upward bias. However should the rising dynamic under price fail today at any point look for the same type of pattern emerging as yesterday when it lost the parallel then...a rally back to underside of the same line and then, eventually, failure. If we see this type of price action develop it can be shorted with stops above the line. But until then we can look to buy this next next dip to the dynamic with stops under the line.
COINBASE:BTCUSD
by sumastardon
7
ETHEREUM: ETHUSD Next Buy and Sell Points TodayETHEREUM ETHUSD Update So maybe you have 5% more ETH for your money than yesterday...and if not ETH is back at the same levels again, but this time challenging resistance from the underside of the dynamic which until yesterday had been good support...so we've seen this pattern countless times before...ETH is vulnerable again here - must find buyers now to push above 848 and hold there for further near term strength today to 892 and then 990.
BITFINEX:ETHUSD
by sumastardon