Bitcoin (XBTUSD) Analysis of past 12 days.

Hello everyone. You can check out my previous Bitcoin ideas in the related idea section. I have been in a short from 8700 area and closed at 7900. My most recent trade is a long at 7590, which I closed at 7940. Both are in related ideas.

Currently, as there is consolidation, and little significant movement, I just wanted to post an educational idea.
It is very straight forward, as I wrote down everything that you needed to know on the chart itself. But as you can probably tell, Bitcoin seems to move against what the majority is doing, most of the time.

I personally am looking to enter in a Bitcoin short somewhere above 8300+, if it can reach that area. I am considering whether or not to enter now, but I would like a better entry.
I have always told myself I would post a new idea at 7300, but I decided to post an educational idea in the consolidation area for Bitcoin.

I know this idea will get at most 300 views as this is a bitmex chart, so I am very comfortable posting this. I would rather most people stick to the traditional TA method of drawing lines, using Fibonacci's, and indicators.

Thanks for viewing!

Comment:

I don't really like the TA most people post on tradingview. There is a great Quora answer by Aaron Brown, the former risk manager at AQR, about his thoughts on the current state of technical analysis.

You can search for his answer or visit my twitter page, since I have pinned the link to it.

When I visit this site I just see very bad calls everywhere.