MikeLloyd
Short

[BITCOIN] Horizontal S&R | MFI & Fisher Divergence

OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
355 2 7
From a technical analysis standpoint alone, and not the views factually of my own opinion; Bitcoin displays a divergence on two primary indicators to my Technical Stratagem.

If I was to position myself on this market analysis, I recommend a careful selection of entering a short position. Under no circumstances would I consider opening a long position within the next week until revision, and it is recommended to not have a position in the market if you consider not risking a downside short.

Short: Consider seriously
Long: Avoid
Fiat: Preferable

Dark Orange = 1D S&R
Light Orange = 4H S&R
Light Green = 1H S&R
White Trendline = Direction maximum or minimum from reference

If you wish to use a standard model I have developed, refer to: http://i.imgur.com/A895npc.png

Happy trading everyone!
KrakenTrader
a year ago
Mike, thanks for your opinion.
I am already:
in fiat, entered a short position
observing permanently to take advantage of some swing trading profits

Cheers
+1 Reply
MikeLloyd KrakenTrader
a year ago
Sounds good. It is recommended to dilute some risk at the current position to protect yourself from the present upwards movements and high volatility. I would recommend using a conservative strategy.

Chapter 17 in "Securities Analysis & Portfolio Managemnet" which you can preview here. https://books.google.com.au/books?id=vmhYIcuYB8cC&printsec=frontcover#v=onepage&q&f=false
contains some speculative strategies you may find useful.

Regards
- Mike

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