BITFINEX:BTCUSD Bitcoin / U.S. Dollar
Here's why close above 20 MA is key. The good news is that price recently did not closed below 20 MA. Here's how I worked out price right now above 20 MA is still key to possible big move up. Using my custom (6, 13, close, 31), only interested in dark green in the histogram. Here's the magic key. You need to mark all the first days when the bleu rises from a trough (don't include days when blue turns positive). From those first days up it's vital that price does not close below 20 MA. That's when I added in the light blue background squares to mark out Price x Time = covered before price dropped below the 20 MA again. The stats and strategies possible are worth a look. Then again not sure if the size of sample in my study was good enough to make findings relevant. So I'm a bear for now because based on my earlier studies 20 MA was broken, but because price closed above 20 MA if it continues to hold we are still in a potential upside opportunity. Not Advice. DYOR.
Comment: Made a small error. Had originally grouped boxes using shorter MA than 20MA which was still interesting but here is what best illustrates how small square can work its way into something big just by staying above or below 20 MA and using those vertical signal points
Comment: Thought to just add this because notes on chart may be clearer than above
Comment: Done some research to find out what the market may be thinking when my histogram goes red four days after green and still closing above 20 MA. Here are two charts. Will it be different this time?
Comment: Then again market hasn't closed yet so will have to see if close above 20MA and Histogram stays dark red.
Comment: Worth checking out this indicator when it spikes like below. Could be a bad omen Not Advice DYOR
Comment: What a surprise. Bitcoin trying to make a comeback above the 20 day. What should we make of it. Well I currently got red on my custom histogram and the blue MACD may end the day in positive territory (TBD). Lets look at the stats back to 2013. Only 4 times out of 20 did this kind of move develop into a sustainable bull. Here are the ones that did turn bull and worth noting how my custom histogram turned green the next day and price remained above 20MA. Then again may be worth checking back before 2013 see if odds change. NOT ADVICE DYOR
Comment: Well here latest update just need to keep close above 20 MA
Comment: Here's same with Parabolic SAR
Comment: #bitcoin New signal appeared All details on charts Go with #BITFINEX $4,084 or $4,028.4 #breakout but watch for #whipsaw biggest moves like (25-26 JAN18) (28-29 APR18) (27-28 JUL18) (10-11 NOV18) favoured bears but (10-11 DEC18) favoured bulls Not Advice. DYOR
Comment: Bitcoin could end March in the red here's why. All details on chart. NOT ADVICE DYOR
Comment: I got to turn bull. Info on chart, and those above. NOT ADVICE. DYOR.
Comment: Will current Bull turn to Bear i.e. will RSI on shorts & longs continue trend & repeat price collapse NOT ADVICE DYOR