BITFINEX:IOTUSD really failed to capture any of the bullish momentum of the last week. It was a definite underperformer among the highest volume cryptocurrencies. This morning triggered a signal that the volatility has slowly decreased into a wedge with a potential bearish breakout setup. Because this was the lagger of the recent momentum I'd say this is one...
BITFINEX:XRPUSD threw off a signal that on the 60m / 120m timeframes is starting to squeeze with lower volatility. A good trade might be found as a breakout do the downside though any breakout of the squeeze has a high probability of a significant move.
This week two cryptocurrency opportunities happened in BITFINEX:BTCUSD and a similar one in BITFINEX:ETHBTC . Both on the 30m/60m timeframes had the BBK Squeeze which alerted me to them. I have to admit that for most of my trading I have shunned the use of wedges as a technical indicator pattern. That is changing now with a new appreciation. The reason is...
I wanted to share my research for today in a pattern I have begun to notice regarding the BBK Squeezes. Often times a "squeeze within a squeeze" is a great precursor to a breakout move. This really just goes back to the classic chart patterns of wedges and flags which many people use to great success. By coding it up though it lets me do two very important...
Using BBK Squeeze to predict upcoming price breakouts has worked quite well from a probability standpoint on BITFINEX:BTCUSD over the last year on the Daily chart. I like it because once I can see it is SIMPLE. However, I am constantly trying to make SIMPLE... BETTER! LOL Still research and developing ways to better filter the signals for even higher...
Got a signal alert this evening just as price was able to break out of the squeeze