ChartArt
Long

It's getting hot in here, so take off all your shorts

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
260 7 6
Accumulation distribution shows a bottom and OBV is also bullish overall. The uptrend was extremely in danger today, but now we seem to grind out of the bottom. The volume is back to support a breakout.

Trading idea:

Entry: 229-232
Stop Loss: 214
Exit: 298

// UPDATE: Thursday, April 30




// UPDATE: Wednesday, May 27

I'm not seeing this either??
https://www.tradingview.com/chart/2vsemWBx/
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rubenthin rubenthin
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ChartArt rubenthin
A common mistake is to think that pattern always repeat. As soon as they repeat they become too efficient to predict so instead the patterns get broken.
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rubenthin ChartArt
Seemingly very wise words sir, but this argument implies that EW must have become defunct quite some time ago...this pattern looks like it wants to COMplete, rather than REpeat :-)
That said, I AM using default indicator settings after all ;-)
I'm short as long as the downtrend is in tact...
+1 Reply
rubenthin rubenthin
...so I'm watching your purple dotted line very closely :-)
Reply
ChartArt rubenthin
I noticed which mistake I made. I was looking too much at Bitfinex volume data and forgot to check what the trends on Chinese exchanges are. It doesn't look as similar good there volume wise.
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You need to draw your channels out here have a look see why im bearish :)
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