theheirophant
Short

Bullfilter showing bearish divergence on Bitcoin

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Cryptorhythms Team here bringing you some more education on our premium indicator Bullfilter.

New in version 1.2 is a bollinger band signaling system which can be seen. Green X's are where entries are suggested and Red X's are exits. The method is to buy or sell when the Bullfilter value reenters the BB channel. This will help you to avoid some fake outs. (The X's I placed by hand to highlight the suggested trades).

Next up... this chart was absolutely perfect for showing a range of the divergences and hidden movements that you can spot using this indicator.

First thing I Want to draw your attention to is the bearish wedge in late Aug/early Sept. As you can see price was making higher highs and higher lows, a typical bullish pattern ... Bullfilter showed you the markets true intent though with a clear bearish wedge developing right before the drop off.

Next is the bullish divergence occuring on Sept 8th-12. Here price was ranging sideways with no clear sentiment. That is unless you had Bullfilter showing you the obvious bullish divergence!

Lastly, there is a bearish divergence forming right now and with declining volume , I am suggesting short position currently (or tether out if not trading on bitmex).

Trials are available and currently we are having a 25% off sale! With our indicators once you pay you own it for life - including all updates! Purchase also includes a suite of members only indicators at no extra charge and web based tools on our website. Like, Follow and Message me for a trial!
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