Indicators on chart: BB 100 Day 1.15, 0.55, 0.1 Stdevs (Blue) BB 200 Day 1.15, 0.55, 0.1 Stdevs (Orange) BB 100 Week 1.15, 0.55, 0.1 Stdevs (Purple)
Daily BTC Analysis/Report
Date/Time: Sun Nov 3, 2019; 1pm Balance/UPNL: XXXX, -XXXX, -0.4%, UPNL 0 Open Positions: XBTH20 +XXXX @ 9410
WEEK S. Range: 8300 – 10900 / 9650 M. Range: 4200 – 11250 / 7750 CCI: Positive with Roll Up WAVEPM: 0.576 Upper: 11250 Lower: 8300 Trend: Neutral Active MR: None
DAY S. Range: 8000 – 9650 / 8825 M. Range: 8300 – 10900 / 9600 CCI: Slight Positive WAVEPM: 0.705 Upper: 11000 Lower: 8300 Trend: None Active MR: Down: 14 period, lateral movement, MA: 8825, Upper: 9650, WavePM: 0.885;
4H S. Range: 9165 – 9325 / 9245 M. Range: 7850 – 9475 / 8660 CCI: Positive with potential Roll Up WAVEPM: 0.683 Upper: 9575 Lower: 8600 Trend: Up on 200 period, WavePM: 0.702 Active MR: Down: 100 period, lateral movement, MA: 8650, Upper: 9475, WavePM: 0.901;
BUYS 9076 – 8900; 8300;
SELLS 9470 – 9670; 10900;
>>> NOTES
Strategy Compression/Range
Mean Reversion Still lateral moving MR on 14 D (MA: 8825, Upper: 9650) and lateral moving MR on 100 4H (MA: 8650, Upper: 9475)
Technical Analysis Key Levels: 200 D MA (9075), 100 W MA (9575); Forming Bullish Shelf or Bearish Bart with wedge between key levels; Leaning towards bullish breakout but not significantly confident yet, another 1 – 3 weeks of compression/range likely while the 4H periods cool off; Converging support: 200 D MA and 4H 200 period up-trend (WavePM: 0.702)
Fundamental Analysis Some positive interest but is it enough to support this price level? Halving in 6 months, will offer relief from selling pressure as new supply tightens; Major resistance from large regulators, governments, and banks, including China and USA; Overall neutral
Notes Regarding Open Positions XBTH20: Stopped out 75% of position. Initial entry was very poor, sloppy, looking to fill buys at lower price to get optimal entry to maximize position size within tight risk limitations. Allowing a risk limit of 5% of Balance, 0.8% used up now on fees, 4.2% risk remaining.
Take Profit 9573
New Executions XBTH20, Stop Market, -XXXX, Price 9423, Fill Price 9410.5 (Reduce position by 75%)
Comment
Likely range for a small move up within compression range. The expanding 200 x 4H 1.15 Stdev upper band in green is bottom range for long entries, and the 100 x 4H upper band in red which is currently in Mean Reversion condition as resistance.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.