ChartArt

High risk trade idea: The ultimate final last chance for bulls

BITFINEX:BTCUSD   Bitcoin / Dollar
490 2 3
MACD is still "green". This means the logic of the majority mainstream Bitcoin investor that it's still time to buy here. I was betting against the default MACD setting users the two previous times (blue areas) and I was wrong. MACD default setting traders won. So maybe they win again. The bulls have only Monday left to win the fight.

Entry: 220
Stop Loss: 208 (against stop loss hunt)
Target: 258

// UPDATE: Thursday, April 30.

The MACD default period signal fulfilled its own prophecy, again

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janos666
2 years ago
I cannot comprehend how that MACD histogram could be interpreted as a buy signal but I guess it has to do something with the green coloring of the bar. :)
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ChartArt janos666
2 years ago
Trust me. The green coloring of the MACD history signal bar seems to be the main decision point to buy (hold) for most Bitcoin traders.

I learned the hard way that all my advanced indicators are useless compared to the combined power of thousands of people who don't change the MACD default settings (and therefore all see the same information). Many also use BitcoinWisdom which shows the green signal quite large: http://imgur.com/sBRKFVb

So don't fight the trend. If their MACD is still showing a buy signal then expect buyers at this low price.
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