BITCOIN ($BTC): Three Options for Cryptocurrency
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Our Fractal Trend indicator is once again signaling an uptrend for Bitcoin on the daily timeframe.
Trend trading strategies have a high success rate because they produce signals based on what price action is doing rather than on what will happen in the future.
Higher time frame strategies have a higher success rate, require less trades, and cut out a lot of the noise that happens day-to-day.
Here we are simply looking for the current uptrend as signed by Fractal Trend (Green background color) to continue, potentially giving us a breakout of the upper trend line and a chance of new all time highs.
Otherwise we will be looking for a rejection at the upper trend line first.
Meanwhile, to the downside, we would be looking for the lower trendlines to hold.
Overall though, the trendlines are secondary. First and foremost we want to have a bullish bias on the market when Fractal Trend signals Green and a Bearish bias when it signals Red. This strategy alone may lead to some short term chop, but it'll ensure we are in Bitcoin for those long runs like 2016 - 2018 and out for the worst of the downtrend.
Of course from here we could use other systems and lower time frames to get great entries and exits along the trend, but first and foremost we have identified the direction of the trend, and that helps give us a clear roadmap of what to expect.
Like and Follow to help us grow family! 🎉
---
Our Fractal Trend indicator is once again signaling an uptrend for Bitcoin on the daily timeframe.
Trend trading strategies have a high success rate because they produce signals based on what price action is doing rather than on what will happen in the future.
Higher time frame strategies have a higher success rate, require less trades, and cut out a lot of the noise that happens day-to-day.
Here we are simply looking for the current uptrend as signed by Fractal Trend (Green background color) to continue, potentially giving us a breakout of the upper trend line and a chance of new all time highs.
Otherwise we will be looking for a rejection at the upper trend line first.
Meanwhile, to the downside, we would be looking for the lower trendlines to hold.
Overall though, the trendlines are secondary. First and foremost we want to have a bullish bias on the market when Fractal Trend signals Green and a Bearish bias when it signals Red. This strategy alone may lead to some short term chop, but it'll ensure we are in Bitcoin for those long runs like 2016 - 2018 and out for the worst of the downtrend.
Of course from here we could use other systems and lower time frames to get great entries and exits along the trend, but first and foremost we have identified the direction of the trend, and that helps give us a clear roadmap of what to expect.