johnrfraser

fresh start for tomorrow? fyi ItisCalvin

BITFINEX:BTCUSD   Bitcoin / Dollar
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Do we start the day at the bottom and have a clear run overhead to gather enthusiasm and break 600?
Or do we breach the channel and bail??
ItisCalvin
2 years ago
Ah Heiken Ashi.

As I am looking at this it is starting to become more of a chance that we break out of this recent bull trend that started on the 20th. The steeper the trend the more likely it is to break because of the need for constant supply of buyers.

The one you identified, starts on 4-10, is one I hadn't seen. I think if we do break the more recent short term bull trend that could be one we return to. Likely wouldn't see the 4-10 trend hit quite so soon. That could be our bear trap moment when we break the recent short term bull trend.
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johnrfraser ItisCalvin
2 years ago
Heikin Ashi, I'm liking them...hanging onto trends to the dying moment...in theory.
Talking of which...lot sof red ones coming up, 60min, 120, 240 charts, only leaving the 1D to turn...I note, looking back to 4 Nov 2013, there began a 7 day bull run of solid green heikin ashi, followed by a big doji...gradient and number fit our current trend from 20 may 2014.
Could we be in for a quick but sizeable dip correction before heading of up again as per November?
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ItisCalvin johnrfraser
2 years ago
A bear trap, the small dip correction you are talking about, is more and more likely as we continue on. At this rate buyers will take a break from the market and sellers will think this is the time to sell. After that we go down and buyers awaken once again and we continue on.

Heiken Ashi is nice to see the overall trend. One downside is that it doesn't see all the normal chart patterns. Yet, those are few and few between.
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