I'm not trading this, just curious if it plays out.
Same 30% dip over 3 days.
Brings BTC back to the slower long-term trendline, which also happens to be the peak of the previous ATH at around $41k and the 0.618 retracement.
Always keep things simple.
As you can see here with the 50 range bar chart for e-mini futures, when the 9 day EMA (green) crosses above the 20 day EMA(red), price direction is clearly defined.
Using range bars gets rid of a lot of the noise associated with time-based charts, and keeps other time frames from invalidating your ideas making you miss out on good...
On the 50 range bar chart for SPX E-Minis Futures , you can see what has happened during this last run-up when RSI dips to 40 or below and starts climbing. Marked with the red arrows.
We take a day or two for a quick breath, then start climbing again. I would like to see a couple more bars print for confirmation.
If we can punch thru the $3202 level, marked by...
Indicator just fired off to go long at 10,710. As you can see from backtesting, it nearly always hits the take profit(TP 1).
3% down for stop loss, 2.4% up for TP
10 X Leverage gets you a solid 24% profit