Choppy Waters - Whats your strategy
The BTC chart over the past few weeks has ranged around inside a fairly tight range (tight for BTC that is) and the pattern emerging is a fairly clear period of chop within a tight range (<4%) followed by a large swing one way or another (>4% in a single candle).
unless you actually like going full degen on bitmex and using 100X to trade $100 moves this is a difficult trading environment as the moves come out of the blue
However looking closer into the choppy periods I'm seeing a decent pattern emerging that the longer they continue the more BTC breaks down out of the pattern
Running through the last few periods of a couple of candles in 3-4% total range I count the following
Length of 'Chop' (<3-4% movement)
Short (<16h) Long (>20h)
Outcome Move Up 4 2
Move Down 1 5
it's no iron rule but I'll be keeping this in mind when I'm in a trade, the longer it ranges about the more i'll be positioned for a breakout down
unless you actually like going full degen on bitmex and using 100X to trade $100 moves this is a difficult trading environment as the moves come out of the blue
However looking closer into the choppy periods I'm seeing a decent pattern emerging that the longer they continue the more BTC breaks down out of the pattern
Running through the last few periods of a couple of candles in 3-4% total range I count the following
Length of 'Chop' (<3-4% movement)
Short (<16h) Long (>20h)
Outcome Move Up 4 2
Move Down 1 5
it's no iron rule but I'll be keeping this in mind when I'm in a trade, the longer it ranges about the more i'll be positioned for a breakout down
Pernyataan Penyangkalan
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.