Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
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If you've been paying attention you know what happens next!
Bitcoin (XBTUSD) broke below EMA10... This signal only confirms when the daily candle closes.
Below EMA10 Bitcoin can easily go lower, especially if the trading volume continues to increase.
Today's drop is already high volume with a big red candle. This candle has a long-wick and the daily close will confirm the final signal.
We are likely to see more drop and we have been expecting this for a while. So it is no surprise since Bitcoin grew from ~$3500 to $10,000+... Now we will have a bearish wave for Bitcoin while the Altcoins grow.
Bitcoin (BTCUSD) 4H Timeframe + Altcoins Market Update RED Bitcoin Easily, Money Flow To Altcoins, 2020 Halving?
@alanmasters, Good stuff man ...keep it up..I generally only rely on my bot to trade these days...but I do some TA to make up my mind on risk. I do like new ideas which you do have.
@alanmasters, yeah it does if you stay true to it...in other words the less you meddle with it and the more you just let it do its thing the better you will be. I did a spreadsheet recently on it from the last 3 years and it had over a 650% return with no leverage and on a 1% risk allocation. It basically takes the script called PortalBOT swingtrader (under my profile) and just automates it.
AlanSantana
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@six19trading, Lots of resistance and we are not seeing any bull strength right now...
six19trading
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@alanmasters, its really hard to be convinced to go long until it breaks the 10.4 10.5 area and stay above at least a day
We should see some fireworks shortly.