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hainsdo
Aug 23, 2018 7:43 PM

LONG BTC Range, Opportunity to buy soon. Long

Bitcoin / DollarBitfinex

Description

Context: The Bitcoin 0.67% price is evolving in an uptrend range. In a range, the price goes up and down between two resistances. In this chart, the range is defined by the green zone.

Opportunity: We will have an opportunity to buy because the price is hitting the support of the range. This may cause a bounce toward the resistance of this same range.

Confirmation: This signal will be confirmed when the StochRSI lines will cross back to the bottom dotted line and when the MACD line and the Signal Line will cross upward.
Invalidation: This signal will be invalidated if the falls under the range resistance.

Comment

Waiting for the MACD cross to happen...

Comment

I confim this signal :)

Comment

The main resistance ATM is the 100 periods EMA over the 4h chart

Trade active

Trade closed: target reached

Comments
wagwanbebe
will you aim to sell again soon after, what level you aiming for?
hainsdo
@wagwanbebe, just below 6800. I believe the candle will not close over this level.
wagwanbebe
@hainsdo, ok thanks, lets see :)
hainsdo
@wagwanbebe, it looks like I was accurate
wagwanbebe
@hainsdo, had to sleep so set for 6800 and sadly didnt complete haha the joys of crypto being 24/7!
wagwanbebe
@hainsdo, bull trap inc?
CryptoCoinSpec
Definitely agree with you that an opportunity is developing but we need to make it through a few more technical hoops for confirmation.
wagwanbebe
Yeah update when possible please bro :)
DonatasBaltrusaitis
Did it happen yet?? :) I don't understand MACD principle...
hainsdo
@DonatasBaltrusaitis, I confirmed it, and the MACD is a very interesting indicators and it can be used to confirm trends. When a cross happens, we can confirm the direction of trend. If you want more details, you can read this ;) stockcharts.com/school/doku.php?id=chart_school:technical_indicators:moving_average_convergence_divergence_macd
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