magnus_turing

magnus_turing

Back to my 15m chart, this has been recurring for weeks now that we see constricting bollinger bands in side-ways trading then a massive pump. Given we are now trading above a log trend and linear trend we might just see it one more time. Still a very real possibility that the overall sentiment towards BTC in medium term is downward.

magnus_turing

Just broke above the log scale trend line on the 1HR chart. We still have plenty of well discussed resistance up to $8900 I'm long. Raised stop loss to 8400 and I'll buy back in down below 8200 if it stops me out (which locks in a 6% profit)

magnus_turing

Looks like my previous prediction / timeline estimate was right on trend and we broke through the 8379 resistance in the current 4h period's candle. I'm thinking we'll see another bit of resistance around the 8625 price since we traded in that area for so long on the way down a few weeks ago. We also seem to be pushing the top end of the bollinger bands on the...

magnus_turing

It seems like we are still climbing slowly since my post yesterday towards 8400, I'm still bullish that we can get to 8400 but I was wrong yesterday on the estimate of how long it would take. I've updated this chart to show an estimate that we could see the price target in 1 day and 4 hours approximately. We've seen steady inclines in buying volume for the past 3...

magnus_turing

Will this short term trend to 8379 resistance hold? We are on a nice little run up on the short term to our next resistance level from the previous run a few days ago. The high on the previous attempt at a bull run was at $8379 so that's the number to beat on COINBASE:BTCUSD here on the Coinbase chart. I'm looking to see this play out in the next 7 candles so...

magnus_turing Updated 

I've noticed that as Bollinger bands constrict (like they are now) on a 15 min chart we are seeing low volume and an easily manipulated market. I'm anticipating that before lunch (1.5 hours from now) we'll see our next move. My bet is on the downside as we haven't seen a retest yet of the 7500 support (what we hope is support anyways) of the trend line. Until I...

magnus_turing Updated 

I am generally short term bearish on COINBASE:BTCUSD but consider the coming days a great opportunity for dollar cost averaging if you believe the overall trend long term is growth in the coin. I do recall last year being absolutely blown away by the $6000 price tag of COINBASE:BTCUSD but at this point it seems like an absolute steal. It's like buying ...

magnus_turing

I'm seeing some discussion out there around a repeat of 2014, and I have to say I'm interested to figure out what we'll see. I'm trying to play my cards safe here and take 50% of my in-money positions out right now to make sure I have more to invest if it goes down to 5800 as we saw projected a few weeks ago (even though it didn't materialize). There are two...

magnus_turing

This is very likely it. I've seen people talking about the "buying" pressure building on order books, but in addition to that look at how many people were betting against the price of BTCUSD lately. This chart shows pressure to a record high, and when this many people think it's going to happen, on recent record LOW volume, you are asking for someone to come in...

magnus_turing Updated 

Just after I posted my previous trading notes BTC threw us all a curve ball. I personally sold a position I was holding that suddenly became a profit taking target as it pushed towards $8000. Reviewing the chart now I can see that we are now pushed higher into the trend that will resolve in approximately 8 days downward towards the $6800 price point. If we see...

magnus_turing Updated 

BTCUSD just dropped as it touched the downward trend line that is strong resistance. It's very predictably not breaking it but within 2 days it's going to be forced to either commit to the resistance line or the support formed from years of steady growth which also has been a strong support to the downside. I'm sure plenty of Analysts are calling this critical...

magnus_turing

BTC just jumped this morning to touch the trend line resistance from the peak in December. It's been doing this now for weeks, but this time under a massive drop in Volume. Time will tell if we'll see it break through or continue towards the 5800 support line. We also have an intersection of strong support with the trend resistance in 1-2 days (Friday the 13th...