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Bitcoin: BTCUSD Big Beautiful Bitcoin Clean Chart UpdateBitcoin Update Big Beautiful Bitcoin Clean Chart stopped out of last trade for 50 point los, and up to 100 if looser. It's finding support and building pin bars off the blue old resistance line from the old highs. Should stooge around a little longer, moving between 7830 and 7719 before likely moving up again. If 7719 gives way between now and early on as far Eastern markets open it should find support off the recent highs at 7510 and off the lower big parallel too. looks more likely, as the pattern stands now, to move sideways off 7719 line, turning old resistance into major support, should it continue to hold as envisaged. So it's a buy now and over the next hour or so. And if this level holds, you can probably call it the freezer lid. If it holds, Bitcoin is finally tagged, bagged and now so close to having the freezer lid slammed shut. If we see this price action evolve over coming couple of hours only then can we maybe claim the trophy. If so, let it ride, lock the freezer and hide the key and let's see where it takes us. We only need to worry if 7719 gives way. Well done. So close now to throwing away that key. Stops need to be uder 7700 as if it fails it should test 7570 where it becomes a buy agin with stop under the parallel.
BITSTAMP:BTCUSDLong
by sumastardon
3
BITCOIN: BTCUSD Breaking DownBITCOIN: BTCUSD Embargo lifted for a while* So 15 points blown in the twinkling of an eye and another false signal...bet that was Goldmans creating a suck-in. It only takes one really big hitter to see these charts and to know the exact points to squeeze - or it could just be paranoia - whatever, so far Bitcoin has given a second false signal in 2 days. (notice how comparatively smooth and false signal-free it can be during weekend trading here compared to when the big houses are on the prowl during the week?) This fake-out was really cruel - at least price action stopped us from getting suckered into the long position at the false break-out highs, but it was enough to take out stops on the short position, which was the correct position to hold, as we can see, even more painfully now. It hurts to lose 15 points in quick sucession, but to avoid getting suicidal need to remember that by using tight stops we've avoided some much bigger potential losses. Not good to lose a couple of fingers but at least it's not a hand. We are where we are, which is back in bear mode, looking to sell rallies back towards 7100 if we see one...but it's very weak whilst unable to break back above 7080 and hold. That massive red candle with pin bars from above on 15 minute chart all spell further weakness ahead...look to join the selling once the low 7050 gives way, looking for 6925 minimum. If this level fails today look to increase shorts back to the lower parallel
BITSTAMP:BTCUSDShort
by sumastardon
2
S&P Index SPX500: Needs to break above 2588 S&P 500 Index SPX500 Weekly Update in Short-term Needs to break and hold above 2588 to keep upside momentum and avert sideways/mildly down movement toward parallel Continues to grind upwards, averaging 10 points per week, and trampling every bear in it's wake, guided by a massive secondary impulse wave since the summer doldrum lows at 2416. No way can any sane bear consider grabbing this rambling bull by the horns - it's not exactly rampaging, but it could do for a couple of days once minor resistance at 2588 is broken. All is good for the SandP so long as it stays within the parallels - any test the lower parallel is still a buying opportunity with stops underneath it. Still believe, this index will hit 10,000 within 15 years maximum from here. At some point the S&P will break the lower parallel and create a decent tradeable correction...until that happens stay long, if a long term holder. In very near term however it really needs to find some momentum here to break above 2588 and hold here or above on the next minor pull-back (ideal entry point for more long positions) - to avoid drifting sideways to the parallel, where it becomes a buy again, as above. Key support levels are shown on chart. As usual, a break below any listed level should led to a quite a fast test of the next. The dynamic/moving support lines carry more heft and power than fixed/static lines of support, usually, with points of maximum impact often where two types meet, as at 2541 and 2564.
FX:SPX500Long
by sumastardon
Alphabet:GOOG Long term and short term targetsALPHABET: GOOG THE Alpha Bet Google goes on and on, creating a wide pair of parallels as it pushes relentlessly onwards. Only the Regulators can stop them. If Bitcoin's your favourite girlfriend, Google is your mum, (or should be, with Facebook as dad). Looks like Alphabet should push higher towards 1075 where the upper parallel waits to repel it., or at least halt its advance for a while - and what's good for Google is good for world markets usually. (Nasdaq, next comment, is poised to rocket 280 points provided it opens up and moves higher from the open, as looks likely at moment, barring disasters between now and Monday open). Over the longer term, in a year's time, Alphabet should be trading between 1450 and 1500, slowly grinding ever higher, and likely still within the long term controlling parallels shown on the chart. Stops for long term holders can be raised to just below 950
NASDAQ:GOOGLong
by sumastardon