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I say it again, just short bitcoin, manage your fund well, do not get margin call, you well be rich

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Bitcoin did put in a strong 8 am bar to pass yesterday's high but has been lifeless since.

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 Bitcoin,   after failing to reach the "Red Zone",   Price continues to push up.  The move through the "Blue zone" shows strength     Capture b1.PNGCapture b2.PNG

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Did you bid at all or miss because it didn’t get to that red zone? :( bad luck if you didn’t get a fill elle as it’s been a pretty solid reversal :(

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 the daily chart showing a fairly substantial rejection at around 9500 with a reversal candle yesterday, be interesting to see if it can get any follow through.

 

BTCUSD(£)Daily.png 

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Looking to the future can only be about possibilities and maybe probabilities but if playing a range or an asymmetric range why wait for the move to be half over. Already a bit late for that play but useful to know the triangle is significant.

 

There is also the possibility of Ron William's view that if the triangle bottom breaks then the target is 3000. (Taken from the vid linked in the latest post on TA and market cycles in the TA tread).

 

mc4.PNG

 

 

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, I think on any bad news (regulatory or otherwise) could see Bitcoin go down to high $6000 area for sure. Positive news especially on the regulatory front could see Bitcoin try and clear $10000.

 

Bitcoin seems to be 'treading' price action to keep within a particular range until the direction of travel becomes more clear.

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I don’t get it. So BTC is on the support line in black, well below the 200 day MA, below the mean, has a divergence of 30...

 

Don’t all these indicate a move UP? Why the 3k target?

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Ah, you need to watch the whole video (only 20 min) as he uses this chart to demonstrate how to put all the component parts of TA and market cycles he discusses together for the big picture.

 

So IF support breaks, price is below the 200 day MA, there would also be a break of the first standard deviation and the market cycle shows that within the bearish move since the start of the year there are distinct bearish/bullish phases. From the chart the bearish phases are roughly twice as long as the bullish and the current bearish phase looks like it has some way to go.

 

 

 

 

 

 

 

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Actualy just wanted that video again. It’s really good. I’ve never really been one for TA as a whole and just running the whole strategy on it, more use as a potential entry point and where to slightly trim positions going into and out of a trade.

 

But this seems different. I like the explanation about the 20 / 50 / 200 MA and never really thought about it in the way of it representing 4 weeks worth of trading days, a quarter, almost a years worth (there are about 220 trading days in a year right?).

 

I think this is what I need more of to get behind TA. The WHY each indicator should work, rather than the HOW to use. How must be intuitive once people know the why…

 

Right?

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I think so too which is why I post links to articles that explain how different indicators work, knowing that gives a better understanding of their possibilities and limitations. Every indicator has it's limitations so each needs to be applied appropriately.

 

In the beginning most assume an indicator will just generate signals but that is exactly what they can't do. An indicator can shine a light on a particular aspect of a market and help make an informed decision as to future probabilities.

Most are based on OHLC of a number of time period bars or candles, the candles are the foot prints on the chart of the market movers so only candles generate signals.

 

The best way for us to make money is to spot a move by the market movers early on and get in quick, TA and indicators are there to give forewarning and indicate where to look for that signal. 

 

http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators

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Bitcoin took another plunge yesterday to arrive at the previously mentioned 6405. Current retracement looks capped by prior support now resistance around 6610.

 

BTCUSD(£)H1.pngBTCUSD(£)Daily.png

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, Bitcoin is making lower highs and lower lows at the moment which for me is a short all day long with a nice dose of leverage.

 

 

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  the stepwise pattern of the decent is interesting and hints at deliberate, systematic repositioning. 

 

For general amusement I'll add a link to John Ward's blog from Monday where he talks about the number of people controlling bitcoin ~ ' the 1600 bitcoin wiseguys'.

 

https://hat4uk.wordpress.com/2018/06/11/crash2-conflicting-signals-in-the-media-but-growing-certainty-in-the-real-world/

 

 

BTCUSD(£)H1.png

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