stelakis

The dog always returns to its owner...

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
188 views
3
We are going to see BTC going lower... in all charts the following is true... the middle line of the bollinger bands is the owner of the dog (security, in this case BTC ). No matter how far the dog wanders away from the owner it always return to greet the owner and they go sniff on the other side... The markets are rich with that pattern no matter what the security may be... So right now BTC (dog) is north of the owner (middle bollinger band ) so we are looking at a correction to about that level....10000 or so
Comment: A good entry point is any point when the dog(BTC) is at or south of the owner (middle BB)... drawing a channel is not possible IMO due to the "unatural" growth of BTC value...
Comment: 10-29 and 11-13 for example would be good entry points...and always with a stop...unfortunately in these charts the true range is not shown so using a stop would be very tricky...

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