Bitcoin for 8/08/2019

#SP500 #DOW We noticed Bitcoin has been doing “Bitcoin Stuff” this week, exhibiting wild and irrational movements. Like a moth to a flame, we’ve again attempted make some sense as our last report at the start of July (Link Here) proved quite prescient.

At time of writing, it’s trading around the 12,000 mark and the immediate situation suggests anything now exceeding 12,615 threatens some growth to an initial 13,198 dollars. A movement such as this hints at a challenge of the ruling BLUE downtrend, probably quite soon. Exceeding 13,198 is liable to prove interesting as we’re not the only folk equiped with a crayon to draw trend lines. Essentially, the market will doubtless assume Bitcoin is once again heading upward and our secondary of 14,540 looks quite attainable.

To be completely factual, should Bitcoin opt to do “Bitcoin Stuff” and completely outperform logic, it could easily accelerate toward the 16,000 level, perhaps even 16,600. Once in the 16,000’s, we have a flashing red light which anticipates volatility should such a level actually appear. Needless to say, it will also be true to suggest media pundits will start projecting Bitcoin heading to 20,000 dollars and above, depending on which number they pluck out of the ether.

We will grudgingly admit to some calculation issues, if this imaginary currency manages above 16,600 as the price should (logically) almost double.

Alternately, below RED and it faces a slowdown to 6,900 initially. Secondary is at the 4,000 level!

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:13:28PM

BRENT

57.34

               

Success

10:15:32PM

GOLD

1501.79

               

Success

10:17:44PM

FTSE

7207.9

               

10:19:07PM

FRANCE

5302.7

               

Shambles

10:26:27PM

GERMANY

11712.83

               

10:28:48PM

US500

2881.32

2824

2819.5

2795

2885

2892

2900

2924

2846

Shambles

10:32:05PM

DOW

25956

25644

25590

25423

25807

26091

26121

26475

25800

Shambles

10:43:08PM

NASDAQ

7547

               

10:47:46PM

JAPAN

20613

               

‘cess

7/08/2019 FTSE Closed at 7198 points. Change of 0.38%. Total value traded through LSE was: £ 6,840,689,185 a change of 2.45%

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