Hi, in this chart I describe how I read the price action in the Bitcoin chart, in this case the Okcoin futures. My spot forecast and weekly trade setup is coming along nicely, but there are other shorter term opportunities for the traders with a keen eye for technical analysis.
The new indicator plots inside and outside bars, as well as range expansion, paying homage to the teachings of Mr. Tim West. Be sure to check out his dozens of educational charts on the subject, his insightful analysis and lessons are a must see for any aspiring trader in my opinion, and his Key Hidden Levels chatroom a great place to be. Code in related ideas.
Tim West Is A Genius, A Great Teacher, Trader And A Mentor. I Believe In This Man . I Take Any Of His Works, Words Seriously!
Thanks Ivan.
I'm Proud Of You!
IvanLabrie
⋅
Target reached, and very fast.
Douglas-Squirrel
⋅
Does that mean it won't get hit again or that the 11 day period is now closed
IvanLabrie
⋅
It can get hit again, but that level marks a potential retracement zone (it did retrace there).
If it stays above the 11 bar mode it can still rally some more.
A drop under that level would change the bias to bearish.
IvanLabrie
⋅
Interesting daily range expansion and new highs. I think this uptrend has legs, despite what some people might think.