GreaterNinja

BTC, correction or dip soon, buy the dip. Very short timeframe

BITFINEX:BTCUSD   比特币/美元
RSI: 81.9458, If we look at daily, when RSI reaches over 81 and stoch goes (100,99.x), BTC/USD usually has a significant dip.
Stoch RSI: (100,99.2922)
TD             Sequential: The current candle currently shows a 9. The only conflict to this is that the 9 candle price has gone higher than the 8 candle on previous day. A #9 means we can expect a dip on the next daily candle or next few candles. Looking over the chart, the #9 was correct 8/9 times. 12 hour shows a 9 has hit.
Volume: Volume has been descending over the past 4 days while price has been going up.
Pitchfork: pitchfork shows we are touching the upper bullish channel . I would advise caution as price can swing up into upper bullish channel or even break out of pitchfork .
If we look at median line (middle line), price usually always comes back to the median when a correction occurs, then it bounces back upward.
bbands: bbands show a recent constriction and then a break upwards.
Candles: We have had 8 bullish candles in a row on daily. Volume has been dropping the last four days. It tells me we are seeing short-term weakness.
Cloud: Price is well above cloud and is uptrend. It looks bullish as hell.
My proprietary tool for weekly: Shows price currently pointed in a downward trajectory. With that said there is a lot of room to go up 40% more if it reverses direction.
tk-cross: currently we still have a bullish tk             cross on daily (~30 days).
From my perspective we are still in a uptrend. If we look at chart, double oscillators maxing out on overbought have indicated a dip. We can also see a 9 is typically where it shows this as well.
I would argue there is a strong correlation when this indicator and two oscillators are saying a reversal in price direction will likely occur.


From previous experience, we can see corrections and dips occur on 4 hour, bottom, and then it reverse direction back to uptrend.
I would remain neutral with such wild new highs or just make very short time frame trades.
Trading right now is very risky. I would only b&h or do low time frame day trades or wait for a significant dip. I see BTC             longs and shorts getting liquidated everyday with the huge price swings. I would not short bitcoin             , lol. I would even argue that if you are thinking of shorting bitcoin             , its actually better to long an ALT/btc pair or if you are going to go LONG on bitcoin             , its safer to short an ALT. EDIT: I mean, betting against BTC             is high risk right now. Its probably best to bet COIN/USD pairs if you are going to go against the crowd. Be in and be out quick. Set stop losses so you do not get ran over by a train.

One other thing to say is that ETH/BTC             once broke the upper bullish channel on pitchfork , Bitcoin             can certainly do this as well.
Again, to be clear, I just think a dip is coming up on the next one or two daily candles (after the 9 candle), not this candle. I could certainly be wrong, but the tools and timeframe are saying a dip.
Once we dip, we goto ~8k +/- $300, then segwit2x block gets mined, we dump. These are my observations and thoughts.

评论: Median tells me we can go as low at ~6700 if we have a significant dip or correction. Since Bitcoin is overall bullish, I expect this to happen in less than 12 hours.
评论: If 7k does not hold, then we test 6400-6700. If that does not hold we test ~6200