BitcoinLong
BTCUSD Daily 13CCI tlb cautious Long
Updated
Finally BTCUSD Daily has a solid 13CCI trendline break for a Long signal. However, be cautious because
1) BTCUSD just had a abnormally strong candle up
2) price is about to run into strong resistance at 50 sma
3) I need to see clear divergence on CCI relative to the CCI low on the time cycle to the left, followed by a rest of the low, before a Long can go far.
Some might argue that these are already in, and may look rushed relative to te more common divers, which may be true
Watch for a possible rejection at the 50 sma. Watch for any cross of CCI back down thru an uptrendline, then watch for a diver, retest of low, then be ready for strog Long after a CCI tb of any down trendline
The reason I'm giving this CCI tlb some quarter s that the price patterrn down from Nov can qualify as a measured move, 5-3-5
1) BTCUSD just had a abnormally strong candle up
2) price is about to run into strong resistance at 50 sma
3) I need to see clear divergence on CCI relative to the CCI low on the time cycle to the left, followed by a rest of the low, before a Long can go far.
Some might argue that these are already in, and may look rushed relative to te more common divers, which may be true
Watch for a possible rejection at the 50 sma. Watch for any cross of CCI back down thru an uptrendline, then watch for a diver, retest of low, then be ready for strog Long after a CCI tb of any down trendline
The reason I'm giving this CCI tlb some quarter s that the price patterrn down from Nov can qualify as a measured move, 5-3-5
Note
This run-in with the 50sma is expected to pull back. $1500-$3000 minimum. Switch to a 4H or 1H to catch an early CCI tlb if you are scalping. But then watch for the subsequent CCI tlb up thru a down trendlineNote
For scapers, i Just posted the H1 CCI break down thru an uptrendline at 44513. I don't see it posting. A 38.2% retracement down from there was also marked. Obviously, resumption of Up trend would be marked by CCI again breaking north thru a downtrendline
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