the "My Strategy" on the chart was thrown together in abt an hour with profit factor > 3
it's heavily imperfect imo but provides a good idea of when a trend reversal might be occurring.
it just closed out a trade that started at the beginning of this push. Make of that what you will.
At the same time, im seeing a short term trend reversal on the 2min charts -...
BTC has now dropped from the 1.6 std deviations of it's moving average it was staying above throughout this push and is now trying to find support at 0.4
if it does not doesnt find support by -0.4, we could risk a full retrace to below 80k. this is a dangerous time for btc.
RSI matched to momentum of previous bullish waves is showing overbought rating, and we can see three distinct pushes (0-1,2-3,4-5) on lower timeframes that match the criteria of an elliott wave pattern. should see a drop to support soon, possible complete retrace to 70k but i don't see BTC dropping below 70k now. It was like silver's controlled value - now it's...
BTCUSD on short timeframes is entering a squeeze. Add to this a potential elliott wave triangle correction and it should be a recipe for another push to take us beyond 90k. I am skeptical but it's possible.
Two issues though:
1. @0830 inflation figures will be released, we can only hope inflation figures are positive and meet targets otherwise we'll see massive...
