BTCE:BTCUSD   Bitcoin / Dollar
127 1 1
Nothing new at all. Bulls aren't hungry enough to test a real ceiling, bears have no business in being hasty. Redistributing along the same trend we have been for a while.

The CMF             trends at the bottom are left over from the corresponding 6 hour chart. The closeup allows us to see the strength of the individual pitckfork channel movements much more clearly, while maintaining the trend we witness from the longer time frames. Overall outlook seems "content with bearishness" with an opportunity for bulls to retest resistance they've been progressively shying away from after every dip below the median. In the absence of a well-funded bull run, we will slump until we dump.

At this time, I'm reviewing my weak and strong points on the pass through 400 territory and re-calibrating my strategy for the next time we break downward out of the green areas (short version: buy more, hold longer).

I'm reinforcing bullish-outcome longs by spreading orders around the median line overnight whilst we take our ritual dip and setting stop-losses far enough below the median to consider it a "bearish breakout" from consolidation, which I confirm on my 1 hour/30 minute intraday trend chart. These positions have thus far not gotten me even half-way in, and I've even cleared one of them for a nice profit, already.

I'm also taking small scalping positions on the intra-day dips as per my 15 minute confirmations and riding the waves with about a 10% position, which has been significantly whipsawed since being stoplossed out from my $530 short a few days ago, but has remained profitable with the higher number of 15+ point spreads we've been seeing, not including the overnight bargains. The profits on this scalping venture are being progressively added into a hedged position against a bullish breakout as I remain mostly in fiat since our last test of 600. These profited longs, too, are being set with a looser stop-loss below/on the median, as they can easily be scalped to break even if ever confirmation of an unprofitable direction is found.
princeofcoin
2 years ago
Excellent!
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