LazyBear

BTC - Go all-in short already?

BITSTAMP:BTCUSD   Bitcoin / Dollar
2933 22 29
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.

1D view:
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wow..this is a great price structure.

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--- April 29 2015 ----
This broke down the 230. But price doesn't seem to be ready to go sub-200. Wait for this div to playout.
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Another view.
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Good buy volume + momentum building = still a very good setup for longs.

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Another view .. Gives an idea of different levels involved. Breaking that blue channel can take this to 230 imo, but as of now looks good.

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Hey Lazybear, been a long time fan of your scripts. Is it possible for you to list which ones you use in the main post? Those look really good. :o
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LazyBear PRO bryan.j.abella
Hey Bryan,

Here're the indicators used:
- RSI S/R levels: More info here -> https://www.tradingview.com/market/lb-srlevels/
- RSI MTF Panes: More info here -> https://www.tradingview.com/market/lb-mtfpanes/

You can get them from the market place by clicking on "Indicators" button.
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It has gone to 230 after breaking down the blue channel...this support gonna hold?

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Another view of the market struct. It broke the prev support highlighted (in one of my comments above)

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FWIW, weekly.

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it broke out of my wedge, but the follow through is weak
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Current 4hr market structure -- bounce soon?

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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
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