Bitcoin: BTCUSD Clean Chart BS free

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Bitcoin: BTCUSD Clean Chart BS free
The raging beast that is Bitcoin just never quits. It's either positive and rising fast or negative and falling fast. It's hardly
ever neutral though. What more could a trader pray for? Just so long as she keeps moving we can make big returns
whichever way she moves next. Had to leave this at around 1.30 am GMT whilst still in full flow. We'd shorted from 15810
with a stop 60 above - the high was 15858 so it came damn close but was never struck. Some will have closed out on the
first test of the big parallel at 14300 for a 1500 point profit, others still awake for the play-out will have closed out at first
target at 14040 for 1750 profit and then shorted again on break below here by 25 points for the fall to the next target
at 13086 for another 900 points of profit. Below here the next support line lay at 12717 which was struck, but it was
imprecise and the eventual low of this run was actually 12565.
Hopefully most have made at least 1500 points of profit in a few hours trading and some will have 2650 stacked away from
the two big shorts set up in yesterday's comment. We aim to mine at least 1000 points per week from the Bitcoin mine (as
middlemen, efffectively) and hopefully 2000 per week. That way we buy Bitcoin outright at current values roughly once
every couple of months. So far, so good. Just so long as Bitcoin keeps moving we have a genuine chance of achieving this, too.
Right now Bitcoin has made a near 2000 point counter-rally and has now fallen out of the parallels that have guided this
rally and is vulnerable again. We know Bitcoin really likes to double bottom at the end of a real consolidation period and
so rather than buy the rally (too late by far but notice how often there is a change in trend at 5am-7am GMT and often at
12.30am GMT as China opens for business) so will stay flat for now looking for a sell from higher up or if we miss it, a buy
from lower down if we see a double bottom being created at 12718-12558 range later on. More as the move develops.

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Near term double bottom forming at 12500 so if you're still short or were smart enough to short from higher again this morning close out now...then only go short again if 12500 is broken for move t the next line at 12094.

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Der...in such a hurry omitted that, as per last comment, was looking for a double bottom at 12718-125558 to get long, not just to close out shorts...very sorry if I wrong-footed you with last update to previous comment (above) not being finished off with vital reassurance to actually reverse if we saw this double bottom occur as we were hoping for...and to get long with stops below the low set so far at 12500. It marred a good call.
Anyway, it's already rallied straight to the first blue line above it at 13086-13150 and then fallen away again to the lows where it's holding...so another buy opportunity with stops below 12500, and then once 13150 is broken on upside it should rally to 14035 - a good long if we see it. Only gets bearish again on a break below 12500 for move down to next blue support

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Bitcoin Update
Now testing support at the lows and failure here will trigger reversal of longs from 12555 for a 60 point loss or so and
another short, once 12500 is broken, back to 12094 ...not much but worth following with stops above 12570.
Then the support lines begin to cluster so it's going to impossible to trade them unless you're lucky enough to have
very narrow spreads and can get filled immediately (IG in London at least fill you immediately but the spread is
mimimum 100 in quiet markets and 150 in fast)
Bitcoin moving so fast still, cannot keep up with updates...it's
breaking lower, so hopefully, acting in machine-like manner, some are short again on the break below 12500.
If so, very excellent. But don't push it too hard on the downside now - to the next line at 12095 and run a stop (in
head) trailing quite tightly above this short, can use the speed line from the peak of this decline as an exit too...a break
above it wil signal closure of shorts.
Ideally Bitcoin will get a full rinse out, right back to 11391 old
high to left of chart, fulfilling the measurement implication of the giant Head and Shoulders formation of the last few days in
the process - and be ready to fly again. Look to get long again if we see 11391 tested with stops 100 below.

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Low at 11369 stops on longs can be just 50 points lower..
If this breaks it's terrible again, technically and longs can again be reversed for fall to next blue support line, next chart coming

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Longer term chart, showing likeliest support levels from here...more as this develops, looking to get long ...eventually over the next 24 hours or so

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Bitcoin Again
The hoped-for low at 11391 was quite close but definitely no cigar. Even witha 200 point stop we'd have been carried out with the rest in the final wash as the low was 11159, some 232 points lower than anticipated. Sorry for that one.
Now it's broken down through its inevitable little parallels and coming back to test first blue line of support gain at 12710 - if it breeaks below agin it's a short back to 12095...but if it can hold up here we know it's building a right hand shoulder here before rallying once more. Keep an eye on it and follow the chart.

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Sorry...update to chart..small but vital...the nearest blue line has been lowered slightly to account for recent price action...must hold up here now to stay good/positive now... sorry, too big a hurry in fast markets - oh for open mike!

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Poor pattern still unless it burst up through 13086 which it's struggling to do. If day trading long would consider closing out and buying back at 12590 - but if 12585 gives way it should come back one more time to 12094 and maybe the lows before rallying again - this keeps happening...no sooner writtten than it's already happened...How the F do we do this without better means of communication? Any suggestions welcome. would love to fix this once and for all over holiday period. Someone please come up with the BEST way possible... Please!

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Bouncing off 13086 blue support and looking better and better in near term...should now rally to to the first green arrow on chart and then to the second w at 14035 where fixed and dynamics meet...close out there and then be ready to go long again when this area around 14035 and above to the dynamic is cleared for a good rally to 15509 and 15814 ideal high before it comes off again. These are the start points of the recent decline, remember.

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Der...green arrows herewith

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Last word for now, hoping set-ups will last a while longer now.
So Bitcoin can be bought off tests of the speed line underpinning today's rally from the lows and shown on the chart (with trailing stops (in head) running quite tight underneath that line. It only turns negative in near term when that line is broken. Close out longs at that point if the upside targets are not reached first (as above).
Enough already. driving you nuts by now. Enough

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Yeah, right. So much for radio silence. New development needs attention: Bitcoin has just formed a new set of bigger parallels, confirmed by the most recent minor high getting clipped back at 13387 - Any longs should be out for a small loss as the speed line supporting the rally failed just under the 13086 fixed blue support line.
To escape this new downtrend it will have to break above 13086 and hold up there. Only then will it look safe for a rally to the upper parallel above it.
But in very near term Bitcoin has actually turned neutral (shock, horror, probe)
and is trading in a narrowing range bounded by support around 12600 and resistance at 13086 - have tweaked the blue supports at lowest levels as all but the low have proved of little consequence so far - so doing what chart instructs. A fall below any line by 30 points or more is likely to lead to test of the next line.

It's now testing that upper parallel...next move critical...wait and follow it if it can break higher and hold

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Hit the next parallel above as expected and come back to 13100- 13090 where it should bounce again...a buy with stop below 13000 for small loss if wrong from here

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Bad stop on last long. Sorry. It's looking Ok now for a rally towards that upper parallel about 1500 points higher rigth now. Look to buy dips back to 14000 looking for 15509 at least and ideally 15814 - the point where fixed and dynamics meet will be the ideal level to close out and reverse with stops above by 100 points - looking for one last blast down, and hoping for a double bottom at today's low to reverse and get long again. The width of the stops used is up to the individual's risk profile...

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Little pins forming off the blue support/buy line ...looks Ok here with stops under the line by at least 100 points

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raise stops to just under 14300 for small 200 point profit if stopped out to use as stops on next trade. Still looking for that upper parallel at 15509 and above until chart says otherwise, (as above)