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Pull-back

BTC Mission Accomplished -> Pullback Trade BTC Pushing the top -> Reaching for the high's prior to the futures trading I anticipate futures trading launching December 5th 2017 to create a third dimension of the market. It will create a flotation device for armature traders. You will be able to know what the market will do based on another indicator. This will also introduce an institutional outlook to help us make decisions, as well as give people the indication of when to take profits, short or cover their shorts. For traders this is great news. For HODLers it will be a wild roller coaster ride of volatility. We also have received news such as the US Government trying to crack down on BTC profit taking, as well as large amounts of coins being stolen from exchanges, BTC seems to be brushing it off... Oh well.... Soooo.... Our job is to predict where we will land once this is all over. When in doubt, look at the moving averages. As per my pervious chart, we took BTC long $10,200 and the target was between 14-15k wherever you feel comfortable either partial your position or close and switch sides. Nice $3,800 Profit I personally closed my position at 14K and took BTC short at $13,800 for a nice $700 per coin profit. Which I also closed out. I want to be completely sure that my short position is 100% accurate. I also anticipate us to push to $15K over the next few days before futures trading is in. Moving averages indicate that we should be around 8-9k Long term moving averages indicate we should be at 5k If this market continues to push forward and does not do a pull back I quit cryptocurrency. After the top is in I expect the market to touch the 100 day moving average on a 1 day chart. Until then no more charts.... Much love and luck to all my followers!
BITFINEX:BTCUSDShort
by TheCryptAlpha
1
Bitcoin; BTCUSD Breaking to upside . worth following nowHaving totally blown most players clean out of the water with the biggest fake out in history, it's getting ready to go again - if you are. .. it's come back to exactly the same levels that the Chinese were buying at last night...7077... put a buy order in at 7090 with stop about 50 points lower and it may get filled later on if it comes back to make a double bottom first before it kicks higher again. If it does and 7077 holds up the first upside target is 7415, so about 300 points upside and 50 down, if struck and not stopped out. Otherwise, the safer strategy is to wait until key resistance for the near term at 7430 -7340 has been overcome and then look to go long on next pull back towards 7430 with a stop justunder 7390 for a 40 point loss before spreads if wrong, but 400 points potential upside. In nearer term Bitcoin is trying to rally from the start of today's structure at 7077 and then flipping down again at the 50% mark half way of the day's range. So it's now stuck in the weak half of the day's range, and, interestingly, is flipping within the same support/resistance lines drawn only notionally about 6 days ago now and yet still exerting some real power over short term swings if you've been watching this. Only once it can get above 7430-7440 should it calm down some and start to regain it's equilbrium and be worth following, as above - otherwise we need to see a double bottom forming off 7077 on the next retest to risk going long, as outlined above.The support lines have worked well so far, with a fall below any listed level leading to a test of the next listed level pretty much wiithout a miss so far, which is plain weird, but untilthey they stop working... as above, 7077 is the important support for the near term and into early tomorrow - if broken it falls to 6928-6920 which is absolutely critical support forthe more medium term (in Bitcoin time short/near term is 1 to 4 hours, medium term is 1 to 2 days - it's a parallel universe, forgive pun) and so if last-gasp support at 6920-6900 gives way at any point all long bets are off the table fast - it should lead to a collapse back to 6312 at least and quite possibly back to 6165 on a spike at which point althe structure shown on the chart will have been blown away and we can start to build again. But that only happens if 6900 fails, at which point it becomes a compelling short.it's been a hell of a day and it ain't done yet. There's 3 more hours to go- and Bitcoin's still up 190 points on the day so far. Thought we had this thing in the freezer and every time it gets back out wielding a chainsaw: Jaws on crack with Scarface's personality traits. That was Bitcoin today. And other days she can be so sweet natured. Back on the hunt.
BITSTAMP:BTCUSDLong
by sumastardon
2