Previous try on BTC was a good call, but I remain very cautious about crypto and trading. Don't misunderstand, I'm deeply invested in cryptocurrencies but on blockchain and mining, not really speculating with shitcoins and others stuff. I somehow needs to open hedging positions considering my mining business, that's why I monitor closely some charts. I'm seeing a bearish continuation on BTC, that may not stop at current support (6k-ish). Fondamentally I believe it would be healthier for cryptomarket to have another leg down in order to shake for good all fake hands/investors that came up last year. Then we Don't take this idea too seriously as I'm just using my forex/commodities strategy to crypto and I didn't backtest too much on these market.
Trade with your own diligence, GL HF
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Closed 50%@TP1. SL@be. Let's see if support is broken or not in the following days.
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So far support seems to barely hold. It can go either way. I'm holding my short because of mining hedging but if not, I would close it.
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Nice move from BTC, too early to take position IMHO.
Fascinating. May I inquire as to the indicator "TDIGM" at the bottom of price chart, please. Appears as a Bollinger or moving average band with stochastics inside ot it? A custom creation? Thank you!
Bastosai
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@Bo, Thanks for your comment! It's a bit complicated to explain in details but TDI refers to Traders Dynamic Index and consists effectively on MA of RSI indicators. So we are looking at different MA of RSI (fast and slow), with classic BB above this. What is added on Price Action is PAC indicator (price action channel) that consists of average of recent low and high of PA.
With this and a few criteria my strategy gives me some signal.