Bitcoin 4 hour mashed into daily bars

11 Apr 2018

I don't need to explain if you have been following my other postings blue diagonals are most recent trend lines. I was also counting waves over the last day which show up as little red lines (one of which is vertical. My analysis is still short.

11 Apr 2018

Nota

Was that a dollar bounce from lows on economic stats that just pushed Bitcoin past 50% at $6,900 ?

12 Apr 2018

Nota

When to go long? I've got three choices on the 2 hour chart. They are all points which had great significance in my thinking to go short. Williams Fractals (50% $7,367.6 H =$8,120.2), (50% $7,037.3 H=$7,509.7), (50% $6,991.5 H=$7,189.0). I cancel all my thoughts about shorts with a stop $7,189.0. Review going long. Can always short again later.

12 Apr 2018

Nota

When to go long extra? Those 3 points on the 2 hour chart mentioned above would also apply to the 4 hour. Bollinger Bands also narrowed on 2 hour chart to indicate that a touch of the bands either way would signal direction of market (sometimes can be false and you need a strategy to deal with). It's already done that once on the 2 hour chart indicating a possible break higher. If it did that again or broke beyond the previous touch could use that as a closer stop. The 4 hour chart also has bands close enough that if price touched would indicate where price was heading next.

12 Apr 2018

Nota

See my new post "When to go long or stop shorts?"

12 Apr 2018

Nota

All long for now. Price smashed through Bollinger Band again 2 hour chart.

12 Apr 2018

Nota

I'm now going to switch to monthly and weekly charts. Less work.

12 Apr 2018

Nota

I think I'll take on the daily charts as well but may look more like I'm copying from others.