BTC Daily Thoughts

XBTUSD.P
BTCUSD

BTC Daily Thoughts

:dancer:

5min. Short signal. short TF scalp for brave.
:eyes: on STOCH cooling of or dropiing ? ( !! )

15min. PA seems to want to test strategy EMA
:eyes: on RSI and MACD
volume is decreasing

30min. after a strong drop PA seeks support.
:eyes: on STOCH if dump comtimues it will break down again (stone on water bounce)

1h. RSI is trying hard to push PA up.
keep watching

4h. after the drop SHORT signal confirmed. many times after drops like this PA first retraces against signal and then reverses back to direction of signal.
this is because many HFT and algo trading is taking place at BTC market. when they spot good signal they programmed to contra trade it for first to contra trade it. pay attention this is not 100% works but in many cases I noticed that it is what happening.

6h. take a look at that MACD hist negative.
Is a bear trap?
Is it a fake bear trap?
IS this the DUMP?

12h. Sell volume entered market and PA didn't sustain.
:eyes: s: on macd

1d. Longs liquidated. volume is now key like always.
Aggressive buyers or sellers are now at war for positioning themselves for market sentiment influence

You can read more about the strategy I use here:

Make sure to follow I try to post analysis everyday

Thank you and Trade Safe