Here's a schiff pitchfork i built using the swing that followed the BTC December bottom.
I would flip my bullish bias if the following happens:
1)channel is broken
2)4hr 200 MA & EMA fail to bounce price back into the channel, and price closes below both
3)daily close below 9100
When number 3 condition is met, I will start shorting. Not before.
I would flip my bullish bias if the following happens:
1)channel is broken
2)4hr 200 MA & EMA fail to bounce price back into the channel, and price closes below both
3)daily close below 9100
When number 3 condition is met, I will start shorting. Not before.
Note
Nice bounce here back to 10k to confirm the channel's validity.
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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.