So many on CT taking profit, exiting all markets, calling tops on $BTC, tethering, retiring, but what if?
Bitcoin has done far wilder things than this little current parabola.
Why not just trail a stop instead?
Allows backtesting of different percentage Trailing Stops, with entries based on percentage based Trailing Buys.
On 4hr, 1.5% trailing stop, and 1.9% trailing buy worked best. On Daily, 4.3% trailing stop, and 1.9% trailing buy worked best. This version is for Longs only. Will write a Short and Long version next.
The current price is digging deep into the Bollinger Bands and last time it did that it signaled a wave upwards, and this time its far outside its Keltner Channels. The lowest it can go is 7000 which would be the outer range of the Bands, but this mornings algo dip struggled to find sellers to take it down as far as it aimed which was 7500, hence bouncing back up,...