Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business.
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Consensio: M MA < S MA < P < bullish L MA
Patterns: Phase 7 hyperwave | Parallel channel inside Bear channel
Horizontals: S: $3,532 | R: $3,658 & $3,984
Trendline: Bear channel
Parabolic SAR: $3,887
Futures Curve: Backwardation with 4.13% spread. Getting more and more bullish by the hour
BTCUSDSHORTS: Bull div in the RSI indicates that I was wrong about pulling back to 20,000 support and that short sellers could increase from right here.
Funding Rates: Longs receive 0.0413%
TD’ Sequential: Price flip
Ichimoku Cloud: Still acting as resistance w recent bullish kumo twist
Average Directional Index: Getting very close to crossing 20
Price Action: 24h: - | 2w: -4.7% | 1m: -1.5%
Bollinger Bands: MA = $3,758
Stochastic Oscillator: Didn’t make a bearish recross yesterday like it was so close to doing, now diverging in bullish manner.
Summary: Not much has changed since yesterday except for one key difference which is an increase in the backwardation spread to over 4%. As that the continues to increase the more bullish I become. However remember that backwardation is not a timing mechanism it is simply a way to determine a bullish bias.
Since that is the only thing that has changed in my opinion, I would like to talk about is how much I am loving the Ichimoku Cloud with traditional settings. Using the ‘crypto settings’ I almost gave up on it entirely due to it lagging all of my other most important indicators.
Over the past month or two I have been following it with traditional settings and now it is absolutely one of my favorite indicators. As a matter of fact it is even rivaling Consensio, and that is something I am still trying to wrap my head around.
The last month it has worked wonders on BTC and LTC (as well as others I am sure). LTC broke through a bear trend, confirmed a cup and handle, got a golden cross and rolled the L MA up. Everything was screaming at me to go long, except for the cloud.
I decided to wait for a daily close above the cloud to enter. That never happened and it saved me. Similar situation happened with BTC: Consensio went fully bullish but the Cloud disagreed and was right.
Furthermore they are very similar and I am starting to think that the rules of Consensio can be applied to the cloud. In bull markets the Tenkan-Sen acts as the S MA, the Kijun-Sen acts as the M MA and the cloud acts as the L MA. In bear markets it is the same but switch the Tenkan and Kijun.
The important thing is to always be thinking and analyzing for yourself. If something doesn’t seem to be working, or if another option seems to be working better then don’t be afraid to explore it.
“Don’t fix what isn’t broken” is terrible advice and only leads to complacency. Do not let that be you! Heck we would still be in the stone ages if that were good advice. Instead I encourage you to think for yourself and always strive to evolve.
Click here for my Comprehensive Trading Strategy | Click here for my Comprehensive Trading Process | Click here to learn about the 2 BTC' to 20 BTC' Trading Challenge
Consensio: M MA < S MA < P < bullish L MA
Patterns: Phase 7 hyperwave | Parallel channel inside Bear channel
Horizontals: S: $3,532 | R: $3,658 & $3,984
Trendline: Bear channel
Parabolic SAR: $3,887
Futures Curve: Backwardation with 4.13% spread. Getting more and more bullish by the hour
BTCUSDSHORTS: Bull div in the RSI indicates that I was wrong about pulling back to 20,000 support and that short sellers could increase from right here.
Funding Rates: Longs receive 0.0413%
TD’ Sequential: Price flip
Ichimoku Cloud: Still acting as resistance w recent bullish kumo twist
Average Directional Index: Getting very close to crossing 20
Price Action: 24h: - | 2w: -4.7% | 1m: -1.5%
Bollinger Bands: MA = $3,758
Stochastic Oscillator: Didn’t make a bearish recross yesterday like it was so close to doing, now diverging in bullish manner.
Summary: Not much has changed since yesterday except for one key difference which is an increase in the backwardation spread to over 4%. As that the continues to increase the more bullish I become. However remember that backwardation is not a timing mechanism it is simply a way to determine a bullish bias.
Since that is the only thing that has changed in my opinion, I would like to talk about is how much I am loving the Ichimoku Cloud with traditional settings. Using the ‘crypto settings’ I almost gave up on it entirely due to it lagging all of my other most important indicators.
Over the past month or two I have been following it with traditional settings and now it is absolutely one of my favorite indicators. As a matter of fact it is even rivaling Consensio, and that is something I am still trying to wrap my head around.
The last month it has worked wonders on BTC and LTC (as well as others I am sure). LTC broke through a bear trend, confirmed a cup and handle, got a golden cross and rolled the L MA up. Everything was screaming at me to go long, except for the cloud.
I decided to wait for a daily close above the cloud to enter. That never happened and it saved me. Similar situation happened with BTC: Consensio went fully bullish but the Cloud disagreed and was right.
Furthermore they are very similar and I am starting to think that the rules of Consensio can be applied to the cloud. In bull markets the Tenkan-Sen acts as the S MA, the Kijun-Sen acts as the M MA and the cloud acts as the L MA. In bear markets it is the same but switch the Tenkan and Kijun.
The important thing is to always be thinking and analyzing for yourself. If something doesn’t seem to be working, or if another option seems to be working better then don’t be afraid to explore it.
“Don’t fix what isn’t broken” is terrible advice and only leads to complacency. Do not let that be you! Heck we would still be in the stone ages if that were good advice. Instead I encourage you to think for yourself and always strive to evolve.
emasar Indicator is available for purchase at alphanalysis.io/product/emasar/