chrisdunntv

chrisdunntv

Technical reasons to buy: higher low, trendline support, 50% fibonacci retracement, prior resistance turned support Fundamental reasons to buy: US bitcoin auction showed massive demand for bitcoin, thus giving confidence in exchange prices.

chrisdunntv

Like I said in January, I expect all bull markets to be met with some strong selling pressure at resistance levels due to "bag holders" who are looking to get out at higher prices. This is exactly why I closed most of my swing trade long position in between ~$585 & ~$660. There was a nice short opportunity last night on the break of the bull flag, but I didn't...

chrisdunntv

Per my live tweet (see link below): twitter.com closed some of my long position around $585 when volume started to dry up around resistance. I'm still bullish in the short-term, and might add on pullbacks depending on news developments and volume.

chrisdunntv

Per my live tweet: twitter.com closed some of my long position around $585 when volume started to dry up around resistance. I'm still bullish in the short-term, and might add on pullbacks depending on news developments and volume.

chrisdunntv

Per my last prediction: I've been cautiously bullish around $440 - $475, watching to see when demand would step back into Bitcoin. It's easy for newbie traders to look back in hindsight at this trend line break and have a "woulda coulda shoulda" response, but the only thing that matters is if you can buy when nobody else wants to, then take profits when...

chrisdunntv

Watch the video here: youtu.be Register for my gold investing webinar: dunn.ly I am starting to accumulate gold as an investment & a hedge against inflation. This is different from my short-term day trades, which I'll take both long and short. I'm more interested in buying physical gold - some to be stored inside the U.S., some overseas, and some in ETF's like GLD.

chrisdunntv

The problem with going long right now actually has nothing to do with the chart. There have been some beautiful reversal patterns, like this head and shoulders. The problem is the lack of "real" demand for BTC. Every chance the market gets to rebound, it slowly fades off. Therefore, I'm cautiously bullish, and quick to cut losses if bulls cannot hold support.

chrisdunntv

$500 is a major price level, currently turned into resistance after holding as support for a long time. I'm watching this area closely to see if we get a bearish reversal pattern around this level for another short. Or if strong buying volume comes in and setups up for a break of $550 with bullish pattern, I'll consider a long.

chrisdunntv

Shorted the crack of the bear flag on BTC around $400. Scalped partial position and looking for my longer-term target from my last chart. Will watch price action to determine management. Here's my post with my anticipation/prediction 2 weeks ago: youtu.be

chrisdunntv

Watch this video for in-depth analysis - youtu.be

chrisdunntv

I've been more focused on stock trading the past few weeks, but still holding my long-term BTC from $502, and looking to accumulate more now that Mt.Gox news is becoming old. The media keeps trying to knock down BTC, But it's been recovering nicely. I'm just looking for shorter-term breakout trades, and dip buys. This could change with any big panic, but I...

chrisdunntv

LONG-TERM VIEW: There's been a lot of dip buyers on each panic, and now we're seeing even heavier buying coming in on China news (BTC China accepting deposits). As long as prior support holds, I'm looking to accumulate on retracements and consolidation, but I will NOT chase emotional buying. I'm still holding BTC long from $502 in my long-term account, and...

chrisdunntv

Shorted the technical break of $800 to see if the BitInstant CEO arrest news catalyst can lead to a "true panic". The $765 level has been holding BTC up, but this could really sell off if we snap with volume. However, I will be quick to cut off this trade if we don't get immediate follow-through. I have very little patience to the downside after waiting so...

chrisdunntv

My short-term targets for my short trade.

chrisdunntv

Most of my trades are REACTIVE, meaning I buy after a panic or sell after a strong upswing. However, this short is ANTICIPATORY, meaning I'm trading into support with lower highs "probing" to see if support can crack, which would lead to a big run down. It's lower probability, but the reward is big enough to take on the risk.

chrisdunntv

UPDATE FROM MY LAST CHART: I shorted Bitstamp through Bitfinex at $791.1, then covered 1/2 into the panic around $770. There's a lot of dip buying activity, and we have to snap this support at ~760 to get a "real" panic. If 760's hold, then we could see a short squeeze back above $900. If it breaks above $790, then I'll cut my position for breakeven and...

chrisdunntv

Bitcoin has been fading off from the $1,000 level (as I mentioned many times). If price snaps $800 with strength, we could see $720 - $675 pretty quickly.

chrisdunntv

This is for everyone asking me what I think BTC is going to do next... $1,000 is strong resistance because there are a lot of "bag holders" (people who wish they could sell at high prices). I think it's going to take another big news piece to break through $1,000 again, so I don't see a clear play right now. I'll wait for more consolidation and pay close...