The Best BITCOIN Overview: Are We BULLS or BEARS Right Now?Dear Friends
The generous D4rkEnergY has decided to provide you with this easy to understand Bitcoin-overview, which will help you decide whether we are bullish or bearish on Bitcoin at the moment. This is not rocket science.
Here we go...
As long as we stay above the orange uptrend line, which is formed since June, we are still bullish on BTC. We closed yesterday with a Doji candle, which typically is a sign of reversal. Not a lot of volume though.
MACD histogram shows us, that bulls are in control and have gained momentum since mid September. All bullish signs, that is confirming that we most likely will continue our uptrend.
BUT...
- IF we fall below the orange uptrend line, the bigger descending triangle will be in play, which per definition is bearish. But I would still consider this as a grey zone/neutral area, hence the fact, we might see a lot of bear traps here.
- IF we fall and close below 6,000 USD, we are definitely bears. We can call off my Christmas Rally I have been talking about the last 2 weeks, and we will most likely go down and test 5,000 USD and probably also below.
You are very welcome!
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Macdhistogram
MACDH | Gunbot trading strategyThis is an example of Gunbot trading with the MACDH strategy. Gunbot is a multi platform crypto trading bot.
About this strategy
This strategy is based on the MACD histogram, taking advantage of signals that indicate a MACD signal line crossover is likely.
A buy order is placed when the MACD histogram crosses up the zero line. A sell order will be placed when the MACD histogram drops below 0.
Settings used
This example uses the "pure" version of the MACDH strategy, meaning both the buy method and sell method are set to use MACDH. MFI is used as confirming indicator.
The following relevant settings were used, all other settings were set to the defaults:
PERIOD: 60
MACD_SHORT: 5
MACD_LONG: 13
MACD_SIGNAL: 3
MFI_ENABLED: true
MFI_BUY_LEVEL: 40
MFI_SELL_LEVEL: 20
Full disclosure
I am the author the Gunbot wiki. This content is only meant as educational material to show an example of how Gunbot can be used, disclosing the full strategy settings used.
Disclaimer
While every effort has been made to ensure these simulations of Gunbot contain the same logic as Gunbot, they will not always buy or sell at the exact same time or prices as Gunbot (because of TradingView's inability to use ticker prices). This is close as you can get in TradingView to the real thing. Backtesting the past does NOT guarantee profit in the present or future.
Please don't use these exemplary settings without doing your own research. Results can vary depending on the chosen market and it's conditions.
How To Trade Histogram IndicatorsHistograms such as MACD histogram or my Ichimoku histogram give two kind of trading signals.
One is common and is triggered on each price bar. The other happens less often but is extremely powerful.
The common signal is triggered by the slope of the histogram. When the most recent bar is greater than the one before, the slope is bullish. This is saying that bulls have the situation in control and that it is time to buy. When the more recent bar is lower than the one before, the slope is bearish. This shows that bears have control and that it is time to sell. When price action is going in a direction but the histogram in another, it tells us that the trend is losing its strength.
Rule #1
Buy or go long when the histogram stops falling and rise a little. Use a protection stop under last support.
Rule #2
Sell or go short when the histogram stops rising and falls a little. Use a protection stop above last minor resistance.
In lower timeframes, it is not be worth to buy and sell every time the histogram reverses. A change of direction of the histogram incline is much more significant on higher timeframes such as Daily or Weekly.
Rule #3
Bearish divergence: Sell or go short when the histogram is reversing from its second lower high and price is on a new high. Place a protection stop above the new high.
Rule #4
Bullish divergence: Buy or go long when the histogram is starting to reverse from its second higher low and price is on a new bottom. Place a protection stop under the new low.
Citi Is In For a Technically Bumpy RideI did this analysis really elucidate what an "extended ceiling" looks like. The annotations are pretty straight forward AND if you look well enough you'll see an upside-down cup and handle forming and if you squint just right you'll see a head and shoulders forming. I would've shown it on the diagram but the drawing would've become too busy to make sense. Notice too, that the 21-day moving average is working well as a support and as a resistance. Admittedly, I haven't done any fundamental analysis but preliminary, doing things in reverse, we see that Citi, technically, is in for a rough ride. If there's a stock you're fixing to take a position, put the ticker in comments section also what position, long or short, you want to take.
Past history candlestick analysis for Hartalega
On March 8, 2018, an Inverted Hammer + Bullish Engulfing appeared, signifying a change to the down trend. This is further confirmed by the support line in blue.
Stock rallied for roughly a month plus until April 12, where a Hanging Man appeared (Note the Hanging Man is not as potent as a Shooting Star, but it still gives the signal that the bullish trend is coming to an end). The trend then start to change.
Stock goes downwards and tumbled, until a bullish engulfing pattern emerges on April 25 - 26. Interestingly, this happened 3 times! Triple bullish engulfing pattern! This also serves as a support line, which supported the price level on June 28 - 29.
Stock rallied up and hit a bearish Harami pattern on June 11 - 12, signalling that bull has lost it's momentum. Stock drops and hit the support line where a bullish engulfing pattern appears, and then goes upwards until it hits a Doji on July 2. Market comes to a neutral tone and market is unsure to go up or go down.. in the end it goes downwards.
Price could go further down until it hits the support line and change upwards, depending on the candlestick formation at that time. If it goes down it would hit the second support line formed by the inverted hammer.
Notice the MACD histogram is showing an upward trend, signifying an uptrend of price.






