Bonavest
Short

Did Ya See the Drop Coming on the 4 Hour?

BITFINEX:BTCUSD   Bitcoin / Dollar
321 4 6
As pointed out by @FALA in TV chat... Overlaying the StochRSI and RSI together on the 4 hour chart pretty much gives you the plan to what is to come. Now to see it get played out in real-time.
So I am horrible at entry points, but the recent UP is what was needed to fulfill the initial chart's RSI and StochRSI. As shown in this chart. We now should see another small push to the previous high of about $239-$240 and effectively create a double top which should also help as a catalyst to push further down to the $208-$210 range.

I believe the Bear trend is nearing the end and this is the first time in about a year that we pushed past the overall trend (YELLOW) line.
snapshot
Reply
Regarding the $208-$210 range... It may not go that deep. In light of the bullishness we may just see a return to $218 which is the Monthly S1 Pivot that has held up price twice before this month. This would serve as the launching platform for MOON!
Reply
ChartArt Bonavest
Next time better don't short when both MACD and CCI are trending up. Especially when the MACD is about to cross the zero line. I also noticed that you missed the Circle news. On Twitter I was able to see that you posted the chart after the news was released on Coindesk. After getting slammed by news in the past I now use a RSS feed ticker which pops up every time Coindesk releases a new news, so I get a helicopter view from what is going on. I caught that headline there and immateriality closed my short and went long when I saw the Coindesk news. You can sign up for free at Feedly, but to get real-time push of RSS feeds you have to pay a small fee. It's worth it.

Feedly Notifier:
https://addons.mozilla.org/de/firefox/addon/feedly-notifier/
https://chrome.google.com/webstore/detail/feedly-notifier/egikgfbhipinieabdmcpigejkaomgjgb
Reply
ChartArt ChartArt
... I immediately closed my short ...

And I assume the MACD and CCI were starting to trend up on your 4 hour chart, because the Circle/Goldman news was already started to get priced in the market at that time. I wanted to sleep, so I didn't publish a new chart, I just knew my last chart would be obsolete.
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out