BitcoinDiupdate In search of a bottom for the king!
Hello traders and fellow gamblers!
A friend (DennisLeeBTC) introduced me to a new indicator yesterday, Volume Accumulation Percentage Indicator (VAPI) authored by LazyBear. I changed the indicator a bit so that I can stack it on RSI (see the script below). I've been playing with it for a while. It showed 4 divergence correctly where RSI failed to detect since 10k drop. My 2014 fractal TA played out quite accurately (see the link below), so I thought to compare the current situation with 2014/15 on the daily TF using my new toy. The chart above shows 4 candidates in red question marks which might be the equivalents of where we are today (scroll right for the 4th one). I left some hints about which one is a likely candidate IF (a very big IF) 2014 pattern plays out in 2018.
To new viewers: I recommend you to take a look at my SMA200 prediction TA for a longer term view of the market (linked below).
Safe trading
/:D
My version of the script (this is my favorite indicator and will prolly use it more than RSI):
PS:
Sorry for not posting TAs recently. In my last TA, I guessed that BTC would dump, but I didn't expect 7k to break that easily. I should have stuck with my old chart. I know a few of you bought the dip near 7k and I feel responsible for that. I will go back to my old style 1% confidence level statements so that you don't rely on my charts for trading.
Thanks to all of you who leave positive feedback and encourage me to keep learning and sharing. Special thanks to DennisLeeBTC for introducing me to this new toy.
Image version:
A friend (DennisLeeBTC) introduced me to a new indicator yesterday, Volume Accumulation Percentage Indicator (VAPI) authored by LazyBear. I changed the indicator a bit so that I can stack it on RSI (see the script below). I've been playing with it for a while. It showed 4 divergence correctly where RSI failed to detect since 10k drop. My 2014 fractal TA played out quite accurately (see the link below), so I thought to compare the current situation with 2014/15 on the daily TF using my new toy. The chart above shows 4 candidates in red question marks which might be the equivalents of where we are today (scroll right for the 4th one). I left some hints about which one is a likely candidate IF (a very big IF) 2014 pattern plays out in 2018.
To new viewers: I recommend you to take a look at my SMA200 prediction TA for a longer term view of the market (linked below).
Safe trading
/:D
My version of the script (this is my favorite indicator and will prolly use it more than RSI):
PS:
Sorry for not posting TAs recently. In my last TA, I guessed that BTC would dump, but I didn't expect 7k to break that easily. I should have stuck with my old chart. I know a few of you bought the dip near 7k and I feel responsible for that. I will go back to my old style 1% confidence level statements so that you don't rely on my charts for trading.
Thanks to all of you who leave positive feedback and encourage me to keep learning and sharing. Special thanks to DennisLeeBTC for introducing me to this new toy.
Image version:
Catatan
So the triangle broke out and we got stopped at weekly R1. I went long at the triangle breakout (laggy exchanges are good for catching this kind of breakouts). If we get a pullback, I will reload again with long positions at 6677, 6620, and 6564. My stoploss is at 6463. My targets for taking partial profits are the red lines in the chart as well as weekly resistances and EMA20. Since ATH, EMA20 controlled several swing highs in downtrends.(Big) IF we follow 2014, we should be able to reach EMA20 (just below 7k as of now). I will keep an eye on volume and divergences on my new toy (VAPI) and RSI for trading the swings. If we get to 7k and there were no bearish divergence, it is likely that we go higher and reach the next target(s)
The Fib lines are not tuned. Write a +1 or give a like if you want me to post a short term TA. TV is turning into a ghost town and I don't want to waste my time if no one is reading my TAs.
This is not a trade advice, I am just thinking out load.
Catatan
There is a new FUD! Bithump is hacked. Be careful going long. This market was ready for such a FUD to sink further. I closed my yesterday's long after second rejection at Weekly R1. Safe trading and I hope you haven't lost money.Catatan
Sorry guys for not publishing the promised TA. I waited for a daily close, and then this FUD popped. I don't trade in uncertain situations. Now we have a semi counter FUD. I read the news from a few sources, this one is the most skeptical one. We already saw the effect of it but I really don't know if it is going to affect the market further. So, until market digests these 2 events, I will stay on the sidelines.coindesk.com/tether-review-claims-crypto-asset-fully-backed-theres-catch/
Catatan
68xx is a confluence of 4 important resistances as you see in the chart. BTC may keep barting for a while. Watch out for fakeouts and fake fakououts (lol) if downtrend line breaks out.Catatan
Sorry guys for not posting new TAs. I've been focusing on indicators lately.Bullish signs:
- Bullish divergence on many indicators on large TFs
- MACD histogram trending up and above 0. It shows trend is changing to bullish slowly.
- Falling wedge
- Sell pressure is almost neutralized
Bearish signs:
- No buy pressure
- Market sentiment
Overall I am more bullish than bearish. I would be more bullish if we make a NSH (6350+), break downtrend resistance, and break EMA20. If we do, next target would be 6.8kish, and the next 7.4k+ (could go as high as 8k). If we go down, I don't expect any dramatic drops. WCS is slow bleed.
Catatan
Bitcoin is bullish guys. I expect 6840 to break this week. Perhaps in a day or two. It has been a long time since bull flags followed thro immediately after. Altho it's a bit of an ugly flag, but it will eventually break out, even if we retrace to .236 (6570) and .382 (647x). BTC had good gains with good volume and follow thro. That's all you you to confirm bullishness. Sorry for not posting charts.Catatan
Congratz to bulls and sorry to bears. Just wanted to tell you that 2018 is not repeating 2014. Hit play and see for yourself.
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Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.