Bullfilter showing bearish divergence on Bitcoin
New in version 1.2 is a 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 in late Aug/early Sept. As you can see price was making higher highs and higher lows, a typical ... Bullfilter showed you the markets true intent though with a clear developing right before the drop off.
Next is the occuring on Sept 8th-12. Here price was ranging sideways with no clear sentiment. That is unless you had Bullfilter showing you the obvious divergence!
Lastly, there is a divergence forming right now and with declining , I am suggesting short position currently (or tether out if not trading on bitmex).
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