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40K is the level to claim for Bullrun confirmation - learn whyHi all, just take a look at previous bullruns and draw a line 40% from the bull run top. That is more or less the level that needs to be claimed before speaking of a bull run. But, what you also see is a retracement at first touch of approx 30-60% in previous runs. This leads me to think that we can now easily see a run up to 40K and then seeing a retracement back to these levels of 29/30K before going claiming the 40K level and upwards into bullrun territorium. So don't be fooled that going to 40K with an ETF approval is confirmation of a bull run.. it won't be! It will be perfect fuel to kill longs, and the big boys to go shopping at 30K before a real bull-run is starting.
BITSTAMP:BTCUSD
by WHEN1110011
GE General Electric Speculative Buyondip with Stops below 12.50GE General Electric Not Dead Yet It's been a long time since the last update on GE - it's not been warranted either by the look of it. It's still unloved and untrusted. Depending on profile, this looks like one to accumulate at the these levels. After spending months in a relentless down-trend that began with the break below 30 (several months before any bad news hit the St) and which looks to be drawing, slowly, to an end, this looks like one to accumulate at the these levels and on dips back to 12.60. Downside is showing a loss of momentum and it's now moving away from the heavy parallel which has killed all rally attempts in the past few months.It's now using it as support on this current move lower. It may be unloved still, but this old girl still has a certain beauty. Look to buy around current levels down to 12.60 with stops below 12.60 by 10 pips or so. First target at 17.35, then 19.35. It will require a degree of patience, though ; )
NYSE:GELong
by sumastardon
BTCUSD: Bitcoin - Clear and Still Present Danger BTCUSD Bitcoin Must apologise for rubbish call yesterday and no follow up. Was expecting a period of light relief over the weekend. No such luck. The spike that came shortly after the match had finished was a big one and the ensuing rejection period flipped Bitcoin straight back down to the lows again and triggered a short from 7399 as it broke below here. If still short here can either close out again for 90 or so profit but ready to short again on a break below 7200 - it may only reach 7162 at first and try to rally back to 7200 but once this is broken below it should decline in stages back to 6615-6517 range. But in the nearer term Bitcoin is trying to rally again - it's still thin and treacherous and still cannot trust this counter-rally even though it can push higher again from here. There's a good spike off the lows today so it looks like another continuation pattern is forming now. But there is no upside here worth contemplating so far except for brave day traders who may wish to follow a break above 7350 on Bitfinex looking for 7467 and maybe 7540 at likely best before it comes off again. Otherwise we have to wait - again - for that probable break lower, when and if it eventually arrives. Patience. A virtue. This is the lesson of 2108. 2017's watchword was HODL. 2018's is PATIENCE. We have to learn it and adapt to change. Not what anyone really wants to hear. But it's true nonetheless
COINBASE:BTCUSD
by sumastardon
22
DXY: Dollar Index Update - Not done yetDollar Index DXY The dollar remains under medium term pressure and evntually it should fall away in stages through the blue lines of near term support potential to 88.31, and likely touching the longer term trend line at the extremity of the fall before bouncing away strongly again. In the very near term DXY is making a little continuation pattern below the low of the last decline at 90.97-91.01 and flipping in a 1% range bounded by 91 on the upside and by 90.17 on the downside. As it does so, gold and Eur dance to its tune. Even if it can manage to move up above 91.01 it is likely only to rally towards the upper parallel at best, touch it, and recoil back lower once more. To escape the year-long down- trend DXY has to break that upper parallel and hold on the retest. Only then will the Dollar's trend turn back to positive and we switch from selling rallies to buying dips once more.
TVC:DXYShort
by sumastardon
IOC bullish af, potential 500% from current price!Spike - this is very interesting spike, I believe a whale entered market here, but such spike, means huge volume = someone have very big reasons. And whoever he is he knows something what we don't know. From that point price reversed to a uptrend and very volatile. My suggestion is - follow the whale. Resistance - if it brakes resistance our TARGET1 is 0.00034 After correction wave TARGET2 is 0.00045 TARGET3 will be updated Please share Your opinion? Lets discuss it. What do You know about this coin?
ILong
by fairplay47
2
BCHUSD Athough on support this is not over yetBCHUSD Another spawn from the Bitcoin stable that has behaved technically perfectly - could be fresh from the latest chart book showing what a 'stock' can do under perfect conditions - but this time looking at downsides, not upsides... It's fallen below it's dynamic support line and then come back up to retest it from the underside....and repeatedly failed...that's the big clue that this is headed south from here - can be shorted now with stops above the line, yes? It's exactly the opposite of what a 'good' breakout to updside will look like. And in doing so it has fallen in 4 sections/waves to the low, searching for support from the beginning of this structure to left of chart, finding it on the lows of that structure and rallying there. But this decline is not done yet until Bitcoin itself makes a clear bottom. Near term support at 2322 must hold up here to avoid another test of 2248 at least, if not to 2209. Any failure to hold this latter level during the course of this week will tip BCH back into serious bear territory again and will likely force price much lower still, to 1840 at least, if not to 1766 where we can look to get long again if struck. But it's holding for now above 2322 so is neutral to mildly positive...but once 2320 gives way it flips back to negative again and we look to pick it up from lower levels from there.
B
by sumastardon
1
Litecoin: LTCUSD Update and stops for remaining longsLitecoin: LTC Longs should have been out as the dynamic support failed at around the 276 level - see how often there will then be a challenge of the same support from the underside, which works for an hour or so before it falls away...not always, but maybe 50% of breaks are like this and the other half are clean, hard and fast. Last comment suggested looking to buy again at 245 with stops below 238 - well it wasn't very helpful, with a spike low at 235 so some will have been carried out with the rest of them...if you set your stop under 234, well done. But LTC must continue to hold up here at lowest - and that depends on Bitcoin holding up too, which is unlikely looking at that chart in isolation...so if still long here be careful. Any break below 234 by more than 5 points is unlikely to be a fake- out...it will then likely fall to 219-210 minimum and more probably to 188-172 range where we can look to pick up some more.
BITSTAMP:LTCUSD
by sumastardon
1
GE: An issue of Trust - is it safe yet?GE Will 2018 be the year GE starts to get better? Who can say and who can be believed anyway? The chart. It walks while CEO's talk. GE has pretty much turned dead since the traumas of the Fall. It's been moving in a very controilled trader-friendly way with 4 perfect hits on the 18.04 line and three on the 17.59 line before it gave way, falling to new low at 17.36 but finding buyers since and now trying to break above a fairly minor trend line from the most recent peak at 17.52 now. It's likely to get a few buy recommendations for potential recovery from a few brokers in their New Year's tips sheets but will need to find enough to push it back above 17.59 and then hold above here on retests. That would be the first bullish sign from GE for many a moon - and should be encouragement enough for other buyers to join in and push price back up to 18.04 - where it becomes ... a sell again most likely. All this price action we see on the chart over a two month period is the equivalent (or fractal) of two hours' price action on Bitcoin.
NYSE:GE
by sumastardon
Bitcoin: BTCUST Still not over yetBitcoin Last shot Well that long didn't do too well - stopped out for about 200 profit unless you were smart and trailed a tight stop under it - 500 points profit lost by bad stop management. If it was going to halt the last high was a pretty obvious place - too busy updating other calls. Just plain dumb. Late. 16 hours playing with Bitcoin. Last shot for tonight... Despite the set-back Bitcoin is struggling on, now carving out a new set of parallels which have a corrective feel about them. It's still a buy off the lower parallel with stops quite tight, trailing underneath it and it will be a sell off the upper parallel later if touched at around 15600 in maybe 3 hours' time if the lower parallel continues to hold. It really should then fall away, potentially quite hard most likely back to 12094 and if this fails back to the lows. If this price action develops and it heads south hard and fast rather than more haltingly, then watch how it behaves at the lows...it should start to fight and flip around there to show it's got a chance of holding and getting long with stops within 50 points of the low...if it doesn't fight here it means we need to be prepared in advance psychologically to deal with the initial shock. We'd be looking at a full-fledged rout of every last bull left in town - driving price back as low as 8324 and maybe as low as 7843 at the extreme. This is not over yet until that upper parallel is breached and held on the retest by the bulls again. That would be a major surprise too. But it is Bitcoin guys. We know it's capable of pretty much anything. And so it needs covering. To turn from bearish back to bullish Bitcoin has to cross that upper parallel, hold on the retest and then break above 15814 and hold. If and only if it can manage that will the next long get triggered back to 17908 to start with and likely back to highs thereafter. And if Bitcoin loses the smaller parallels that are now holding it up before it reaches the upper parallel it means another test of the lows is likely underway but a little earlier than currently anticipated. Longer Term clean chart to follow
BITSTAMP:BTCUSD
by sumastardon
Bitcoin; BTCUSD Head and Shoulders Top Now !BITCOIN: BTCUSD This thing moves like lightning. Shifting shapes: Head and Shoulder Top Still don't think this has finished its rinse out yet. Evenn more worrying, after dealing with the failed reverse HandS this morning there looks like there's a massive head and shoulders TOP formation appearing on the chart...stay away for now unless short...it's still ina weak technicalposition whilst anable to get back above resistance (old support) at 7080 right through to 7135 (more old support) and whilst below here that Head and shoulders will grow in importance and power...and an implied downside target at 6563. Stay away from the cookie jar until we see the dust settle.
BITSTAMP:BTCUSDShort
by sumastardon
1
Not broken YET!Despite what many think, long term support and resistance trend lines have been perfectly symmetric and not broken. So, there is no reason to panic. The trend lines showed are cloned. They have the same angle and the price has respected the trend without any false alarms. However, for investing, I don't think it's an appropriate moment to trade, as it might can make a retracement, or continue the rally as for the moment. Better watch when it's near the trend lines. Even though it hasn't broken yet, I also consider the idea that it might crash at any moment in the near future. Time will tell, but better confirm it securely with the trend.
FX:SPX500Long
by Wolf