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Cryptodontrading
Aug 1, 2022 2:01 PM

Full buy signal on HEX Long

Description

Hex has given a full buy signal on the daily timeframe. However, the past two previous times these have been false breakouts. We are still in a bear market and these types of false breakouts are common in these market conditions. Is there enough there in my opinion to increase the position size? Yes. However, since we are in a bear market be sure to manage that position sizing to reflect that.
Comments
theEmptyCup
Any chance I could convince you to apply Tondy's Pi Cycle Bitcoin Bottom indicator on a weekly chart -- if only for your own analysis -- in conjunction with your DeMark analysis? You'd need to look at how it works with long charts like BLX, where BTC has been through three Pi Cycle Bottoms while HEX has just passed its first. I'm not certain whether it will have an effect on the false breakout pattern, but maybe another piece of the puzzle. Thanks -- good charts!
Cryptodontrading
Yea, I will take a look, thanks.
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