This is to warn you. Be a little bit careful here on BTC right now. The weekends have not been bright recently. Notice how every time the price went down in the weekend (weekend marked by the yellow lines on the chart), except for the weekend of the 23rd of February.
Also, notice how the volatility increasess every time directly after coming out of the weekend. Obviously these findings relate to the fact that BTC is incredibly correlated with the regular stock market at the moment.
A second interesting finding is that frequently after a drop , the price went up quite a bit directly on Monday. This is also something you could try to to monetize with a tight stop loss.
For this idea I will follow the recent history and give my bearish signals. I don't see any reason why this time it should be different for BTC .
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- Trading Guru
-------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
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My previous idea got deleted by Tradingview... so reposting it here. I want to highlight a comment from @xberg that was very interesting. Normally we have seen these patterns over the weekend consisting of Saturday and Sunday. However, we are not in a regular weekend right now. Based on my other recent ideas for forex you could see how incredibly low the volatility was last Friday because of Good Friday. Also coming Monday is still Easter.
Therefore, this week we should consider all of Friday until Monday as a 'weekend' for the purposes of this analysis.
Trade active
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And it looks like it's happening again!
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This is what it looks like now, remember that Monday might also be considered a weekend with Easter
it's better to long double bottom on support and weekend about to end, also CME closed on 7290
Trading-Guru
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@Mehdi_agh, Did the CME close on Thursday then this week?
Mehdi_agh
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@Trading-Guru, CME closed Friday night ar 7290 check BTC1! and tonight will open now we are in Saturday on UTC time
Trading-Guru
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@Mehdi_agh, Very interesting also as per comment about this weekend being especially different from all the others. With Easter being here I am curious how the CME gaps will respond
Mehdi_agh
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@Trading-Guru, that is my mistake, I think today is Sunday but it's Saturday sorry, due quarantine I lost days ;))