BTCUSD - Still have time to play alt coins!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Note: this idea is extremely time constrained and may be irrelevant by time you read it.

1 hour just closed with a doji candlestick! We still have time to play alts as long as BTC is carefully watched.

  • + Closed right on the 38.20% retracement (peak is drawn from $11185.10)

  • + Jumped speed resistance fans like it was made for puppies

  • + BTC can definitely drop a few dollars and ride the fan line, no $100 drop (yet)

  • - RSI has flattened out

  • - Price stagnation and a bad candle close can lead to a big dump (or a pump but it looks bearish as of posting)

  • +/- Inside main trend channel. Good because we're safe, but we may hit the bottom of it if support fails.

  • - Extreme divergence from the two moving averages. Usually when this happens we're bound for a correction.

  • - Buy volume lacking

Stay safe out there!
Trade closed: target reached: Unexpected bullish conditions. Personally I have closed all trades and am sitting in BTC/USDT. There is more to be lost than gained at this time, in my opinion.

My published indicators:

Sorry if I haven't replied to your message yet, I'm a bit backlogged :)


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