Up!
Bitcoin: BTCUSD Breaking Higher Again - follow with stops Bitcoin Coinbase Chart Breaking Higher Again
10:42gmt/05:42est
It's popped the upper parallel and is now in process of trickling
back down the same parallel - so now we need to see a
higher low set on this decline - maybe at 10333-10300 and if
not off the lower dynamic support line...that is the signal we
need to get long again from here. So far this looks OK though
and is trying to turn back up again.
On downside, if wrong, Bitcoin has to break below 10150 on
Coinbase to trigger any further shorts with stops 100 higher if
triggered at any point from here
Latest Update 11:07gmt/06:07est
Bitcoin Coinbase Chart
This is a natural spot for dayt traders who bought the lows to
close out off the first test of the upper dynamic from the
underside at 10550...this next decline has to make a higher low now to
show that the uptrend remains in tact. So far the selling is
light and a break above the upper dynamic should attract
more buyers as day traders get long again once broken.
Follow that break higher if not long already with stops below
10500
IOTA: IOTUSD Reverse Head+Shoulders with Upside Target at 2992 IOTA IOTUSD
Yet another reverse head and shoulders pattern with
a minimum upside target at 2992 once triggered by a break
above the neck-line which is now closeby at 2.222 - with stops
a little way below the neck-line once broken to upside.
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
S&P 500 Index Buy Set Up off Swing LowsS&P 500 Potential Buy Set-Ups
Clear continuation pattern as it rinses out every stale bull who
jumped in at the first big impulse wave upwards and on the
wrong side of this now...should make a sweet double bottom
or close to - the first long is a speccy buy with stop either
under today'slow at 2615 or at lowest under that last low to
left of chart at 2590 - and it's another buy/add on breaking of
the upper parallel. So long as this holds at the lows today it
will rally back to the highs and beyond - a 10% rise...this would
just be the start and we can potentially get in close to the
swing low of a major and very rarely occurring dip - last one
was 2 years ago precisely.
Netflix: NFLX Potential Short then long set-upNETFLIX NFLX Buy Neflix and Chill - but where?
Volatility returning to the market is throwing up some
interesting short term trading opportunites, with Netflix being
a prime example... The nearest support lies at 261. If this
fails today it should open up a shorting opportunity back to
228-245 range. The 245 level is important, being the start of
the gap...should tghis level then fail today it opens a second
short back to 228-227 where it should rally from so can
consider reversing the short here with stops below 226. And if
wrong here, and there is no rally and 226 then fails it opens
yet another shorting opportunity back to 204-203 where it will
definitely bounce away again looking for a retest of the highs
again.
Ripple: XRP Next Short Set-UpRipple Next Short set-up
Ripple XRPUSD
Approaching a major resistance point and on verge of next
collapse. See what happens on each previous rally collapse.
Can wait for this to fall below the small dynamic support line
underpinning this rally. Once it breaks it should come back to
test the structure to its left at 0.558, a fall of 30% or so and
worth shorting when signal is given.
Elliott wave Analysis: GBPNZD Taking The Bearish PathLately GBPNZD breached the lower Elliott wave channel line around the 1.9205 region, which can suggest a bearish continuation to be in progress. Notice that rally from 1.8614 level is in three waves, which is also a sign of a temporary correction, so more weakness may follow.
All said, a further break below the 1.9004 level will confirm more weakness.