The China news to ban ICOs later Chinese exchanges didn’t have too strong impact on BTC, the cryptocoin kept pretty well.
These stress-tests play an important role in maturing an asset, and BTC is just fine in my eyes. The initial bearish trendline is still on, so entry is not safe. Now we can determine an accelerating bearish trendline, also we have
an important signal: no lower low than 4001 happened during the week-end.
BTC exaclty follows our forecast and now our task is to sit and wait. Safe entry is not at the exact bottom and, I also believe, bitcoin won’t recover quickly: I count with some oscillation till November.
My indicators are still bearish, one of them is giving a bottom signal only. That’s not enough to me. I will wait for a swing-low or a bullish HA candle on 1D timeframe before starting to think about entering into a long position.
These stress-tests play an important role in maturing an asset, and BTC is just fine in my eyes. The initial bearish trendline is still on, so entry is not safe. Now we can determine an accelerating bearish trendline, also we have
an important signal: no lower low than 4001 happened during the week-end.
BTC exaclty follows our forecast and now our task is to sit and wait. Safe entry is not at the exact bottom and, I also believe, bitcoin won’t recover quickly: I count with some oscillation till November.
My indicators are still bearish, one of them is giving a bottom signal only. That’s not enough to me. I will wait for a swing-low or a bullish HA candle on 1D timeframe before starting to think about entering into a long position.
Trader, using patented technology to detect moves of large players (market makers). Part of my techniques work on cryptos as well.
smartvolume.wordpress.com
'Follow smarts, make money'
smartvolume.wordpress.com
'Follow smarts, make money'
Related publications
Disclaimer
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.
Trader, using patented technology to detect moves of large players (market makers). Part of my techniques work on cryptos as well.
smartvolume.wordpress.com
'Follow smarts, make money'
smartvolume.wordpress.com
'Follow smarts, make money'
Related publications
Disclaimer
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.