cbassthefish

BTC USD Demark indicator Bitfinex 1 hour chart

BITFINEX:BTCUSD   Bitcoin / Dollar
BTC             USD Demark indicator Bitfinex 1 hour chart. Now that was quite a down trend we just saw the last few hours. Demark indicator suggests an up trend now this hour. The purpose of the Demark indicator is to achieve a 9 candle on an up trend or down trend. I will not go into the details as to how this occurs, but this is the aim. Currently we quite clearly see that we have achieved a 9 candle on the down trend. These down trend candles are the ones with red numbers below. We actually pumped on the 8 candle before we got to the 9 candle. This is because people know this is a highly used indicator and so the market will sometimes try to get in or out early before a 9 candle is achieved. Normally on the 8. 9 candles, if achieved and follow the Demark pattern, will be a reversal candle in the current up or down trend.
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