LOOK AT THAT RED CANDLE

Bitcoin / United States DollarCoinbase

Description

⋅ Apr 13, 2018 11:05 PM

Hi my fellow traders! Made a soon short call 8 hours ago about the drop right at the time everyone was bullish, and it created a big red candle again. Only give you ONE important line each post and now you know how strong they are.

But hold up, we are on above the 200 SMA of 4H chart, which is bullish. However, being pushed from a historic trend line is usually stronger than a moving average. Now let's keep an eye on the 200 SMA. If it broke, "welcome" to 3500.

--------------------------------------------------

I'm opening a trading course, PM me for more information.

Comment

⋅ Apr 14, 2018 4:30 AM

As long as bitcoin stays below that line, the market is still strong bearish.

Trade closed: stop reached

⋅ Apr 15, 2018 2:50 PM

Alright, prepare for the f*cking BULL bitcoin market

Comment

⋅ Apr 15, 2018 2:52 PM

From now, buy bitcoin as much as you can, if it goes down, you buy more. It won't go lower than that blue line at least until next month

Comment

⋅ Apr 17, 2018 2:27 AM

Has some day off and very suprise to see price broke down that blue line. Things get serious now. Will update my idea later. As i said, above that line is strong bull, below that line is strong bear

Comments

cI8DH

⋅ Apr 15, 2018 2:58 PM

@MrPalmTree , it may go for a short time. Checkout this chart

cI8DH

⋅ Apr 15, 2018 2:59 PM

@MrPalmTree , this one

MrPalmTree

⋅ Apr 15, 2018 3:19 PM

@hkh222, it's kind of overprice now and will go down. But based on my analysis, staying above that trend line is the need to keep Bitcoin alive.

cI8DH

⋅ Apr 15, 2018 3:23 PM

@MrPalmTree, that line is indeed important. there are couple other up trendlines from 2012 that stretch to these price ranges

WEBofONE

⋅ Apr 14, 2018 4:40 AM

Is the SMA different from the EMA ?

MrPalmTree

⋅ Apr 14, 2018 4:49 AM

@WEBofONE, they are different. Here's everything you need to know: stockcharts.com/school/doku.php?id=chart_school:technical_indicators:moving_averages
In short, they are both helpful indicators but EMA reacts to the recent price more than SMA does. You should use EMA for short-term trading and SMA for long-term trading :D

WEBofONE

⋅ Apr 14, 2018 5:13 AM

@MrPalmTree, thank you for the info !

ROdoubleB

⋅ Apr 14, 2018 4:51 AM

@WEBofONE, Exponential Moving Average adds more weight to the most recent candles, whereas Smooth MA just smooths out the regular Moving Average line. Not sure which is more "accurate" or useful... to each his own I guess. But I'm assuming if you're looking for more of a "historical" average you would use the SMA whereas if you think the more recent prices are more relevant then use EMA.

ROdoubleB

⋅ Apr 17, 2018 2:24 AM

ROdoubleB

⋅ Apr 17, 2018 2:30 AM

@MrPalmTree we never actually broke that line