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This trading system idea looks to be very useful for swing trading bitcoin on the dailies (1D candles). It uses custom parameters with Larry Williams' Ultimate Oscillator: 6/30/150 If the oscillator is receding through 69 then go short or close long positions. If the oscillator advances through 46 (or lower), open a long position. Caveat: past performance...

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On the weeklies, stochastic RSI has now had the longest stretch near 100% since 2013i

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Bitmex wick down looks like it might repeat? Perhaps not as a wick this time? Still haven't tested the midline.

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1D BTCUSD BBands still support the idea that the CME gap is not fully resolved. We should touch the midline in order to resolve the gap.

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Still in the meme triangle

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Folks have asked me what triangle I am watching for a breakdown. Note: BFX premium needs to be taken into account. Currently +$90. Note2: Don't like the bottom line of the triangle and have also drawn an inside line

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Bitcoin has been searching for a bottom price after breaking the parabolic trend lines. This chart suggests the next feasible bottom would be at $5010, but watch the price action at the previous support zone of $5933

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It is difficult to assess where the bottom of the current Bitcoin downtrend will be. Fibonacci lines as shown suggest $5010 as a possible target, but we also should watch the support at $5933.

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BTC has been in a sideways trend for most of the weekend since the PBOC announcement. Since the retracement hasn't broken the 23.6% fib, it is assumed the the breakout will be downwards