Bitcoin about to pump? First public TA using Oracle
Updated
Hello,
after working for over 2 years on my indicator Oracle and Oracle-Signals, i think its time to start sharing some TAs using these 2 indicator.
In my future TAs, i wont write much about news, fundamentals, market structure and and and. I simply let my indicator talk.
1. Introduction - Oracle:
What you see on the bottom, is Oracle. In these 2 years i tried to improve it, tried to add confirmation signals and added other nice features.
The second part of Oracle is named Oracle - Signals (On the chart).
The Oracle - Signals indicator, helps me to spot incoming reversal easier, as it contains a lot filters and conditions. (For example the red/green colored candles)
2. So what is oracle telling me right now?
Lets have a look at the daily BTC chart.
As you can see, i marked, bullish breaks from the past with yellow arrows. Each of these signals played out perfectly and the entries were near the local bottom.
There are a few rules how to enter/exit such trades.
But #1 rule is, enter a trade only when the RSI closes above a resistance trendline or closes below a support trendline, with at least 2 confirmations (which all come from these 2 indicators).
First what i do is, i wait for some early signals of a potential reversal.
Right now Oracle prints strong hidden bullish divergences and a exhausted trend on lower timeframes. Confirmed by the bullish cross on the Wavetrend, Oracle - Signals printed a doji candle and also the candle from yesterday was a green buy candle.
After spotting these early signals, the most important part comes now.
Looking for a trendline on the RSI. If there is none, then we ignore all the early signals and wait for the next opportunity.
But right now, there is a trendline. I already drew that trendline on the RSI.
A close above this trendline today and this is a confirmation for a incoming pump.
Not forget to mention is that BBWP (A indicator made by The_Caretaker) which shows volatility, is printing 0 = low volatility (blue columns in oracle on the bottom). So the next move could be a bigger one.
What happens after the daily RSI closes above the trendline today?
There are 3 outcomes:
These indicator reads work on all timeframes pretty well. On traditional market charts even much better.
So if anyone has come down to this part of the text:
I am open to do some TA for other assets using my indicator. This would help me to understand the signals more.
Write me a comment with the asset name and timeframe and ill try to share some charts.
after working for over 2 years on my indicator Oracle and Oracle-Signals, i think its time to start sharing some TAs using these 2 indicator.
In my future TAs, i wont write much about news, fundamentals, market structure and and and. I simply let my indicator talk.
1. Introduction - Oracle:
What you see on the bottom, is Oracle. In these 2 years i tried to improve it, tried to add confirmation signals and added other nice features.
The second part of Oracle is named Oracle - Signals (On the chart).
The Oracle - Signals indicator, helps me to spot incoming reversal easier, as it contains a lot filters and conditions. (For example the red/green colored candles)
2. So what is oracle telling me right now?
Lets have a look at the daily BTC chart.
As you can see, i marked, bullish breaks from the past with yellow arrows. Each of these signals played out perfectly and the entries were near the local bottom.
There are a few rules how to enter/exit such trades.
But #1 rule is, enter a trade only when the RSI closes above a resistance trendline or closes below a support trendline, with at least 2 confirmations (which all come from these 2 indicators).
First what i do is, i wait for some early signals of a potential reversal.
Right now Oracle prints strong hidden bullish divergences and a exhausted trend on lower timeframes. Confirmed by the bullish cross on the Wavetrend, Oracle - Signals printed a doji candle and also the candle from yesterday was a green buy candle.
After spotting these early signals, the most important part comes now.
Looking for a trendline on the RSI. If there is none, then we ignore all the early signals and wait for the next opportunity.
But right now, there is a trendline. I already drew that trendline on the RSI.
A close above this trendline today and this is a confirmation for a incoming pump.
Not forget to mention is that BBWP (A indicator made by The_Caretaker) which shows volatility, is printing 0 = low volatility (blue columns in oracle on the bottom). So the next move could be a bigger one.
What happens after the daily RSI closes above the trendline today?
There are 3 outcomes:
- Pump right away: It starts to pump without any retraces
- Golden Pocket retest: Draw a fib retracement from yesterdays low, to todays high and long the golden pocket.
- StopLoss: Wick below last local low ($28663 BTC/BUSD), invalidates this long signal
These indicator reads work on all timeframes pretty well. On traditional market charts even much better.
So if anyone has come down to this part of the text:
I am open to do some TA for other assets using my indicator. This would help me to understand the signals more.
Write me a comment with the asset name and timeframe and ill try to share some charts.
Note
Lets have also a look on the weekly chart as the last close was important.I can see once again 2 scenarios, which are easy to trade.
Bearish scenario:
- At the last weekly close, the RSI closed below the support trendline
- Now there are again the 3 possible outcomes i mentioned before. Currently it looks like, BTC wants to pump to the golden pocket at $30600
- From the golden pocket, BTC could dump lower
- Short position can be opened on the golden pocket
Bullish scenario:
- Since last weeks low, Oracle is printing hidden bull divergences
- When we look now on the RSI, we can also draw a nice resistance trendline
- In case, the weekly RSI closes above the resistance trendline, we can expect a very unexpected strong pump
Trade active
Long opened at $29000
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