BTC - Go all-in short already?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I know we all love to short BTC all the time, but wanted to list some things before going all-in 50x immediately :)
  • Price showed a nice bounce near that RSI support zone . RSI showed a 12hr OS signal there.
  • RSI div between the down-steps.
  • Note the OS signals in RSI MTF pane. Last leg to 250 showed 2 timeframe OS signals, while the leg to 236 showed 3 timeframe signals. There still is the possibility of another short leg down to retest that support zone , expecting to see all green in RSI there if it happens. Usually, that is a good bounce signal.
  • %R MTF has started showing OB on lower timeframes (4hr).

Will wait to see how the retest goes. Breaking down this 230 level in the next retest is a clear bearish cycle start, of course.

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Current 4hr market structure -- bounce soon?

+2 Reply
jangseohee LazyBear
good one, mask the price and see the MAs
already making higher low, i see a channel , a break down means bear flag
LazyBear jangseohee
They are actually not MAs :)
LazyBear LazyBear
--- April 29, 2015 ---

Updated views:

4hr view:

1D view:
+1 Reply
An update using these charts or better for current BTC action would be really interesting!
+1 Reply
Thanks for posting LazyBear. Planning on buying these and other indicators with bitcoin if @admin approves.
+1 Reply
LazyBear grahvity
Thanks..have notified @admin about this already.
+3 Reply
+1 Reply
cryptographic1 jangseohee
The Chinese exchanges have broken this downward wedge already. Just waiting for Finexhttps://www.
+2 Reply
johnrfraser jangseohee
Thanks Jangseohee. I'd not noticed this wedge.
+1 Reply
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