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profghibli
Nov 28, 2018 3:52 AM

BTCUSD Bottom found or a at least a bounce is likely Long

Bitcoin / DollarBitfinex

Description

3 hours ago BTCUSD Top/Bottom seeker had a buy signal on 6 HR graph (rather rare signal, only had 3 other buy signals this year)



I'd take a long here with the stop below 3657

Target conservative for now - 4506

Of course, gotta remember that past results is not an indicator of future performance

Comment

Looking good, almost 12% up since the post in a short time. Probably a good idea to move the stop loss above the entry now, to make it a risk-free trade going further.

Trade closed manually

Almost at the target (peaked at 4488, $12 away from the 4500 target), but looks like the end of the wave 5 on smaller timeframe, it'd be smart to take half the profit here ($4450) and leave the other half to ride long-term trade.

Comment

Comment

Using the same indicator that was used for the entry at $3883 in this idea, on 5 mins Bitmex graph:

The green and orange boxes are buy and sell signals
only 1 of 6 signals was a complete failure
It's probably a streak of good luck/favorable conditions, but still. Goddamn.

Trade closed: stop reached

and stop reached. good thing we took half the profits at 4400s.

Not sure what is going to happen next, currently very busy with other stuff, do not have time to follow the market.
Comments
CryptoFido
profghibli
@CryptoFido, I do not think that is a reliable way to find a bottom as you show, but I agree with the (at least short/midterm) bullish view.
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