TedyTrading

Bitcoin move incoming this week!

OKCOIN:BTCUSD   Bitcoin / Dollar
Hello

I would expect a big move from BTC             in the following week. As you can see on the chart we have been compressing for quite a while and both MACD and RSI are nearly neutral at this point, so before you guys jump in to take a trade we should look for some clues off the heading of this move.

1 Lets take a look at the order book, is quite heavily filled with sell orders so it would be much easier to push BTC             down and up at this time.
2 We need to wait for MACD to give as a clear signal.
3 We want to see the RSI trend line break upwards before jumping in long.
4 Also we don't to close inside the cloud, this is not good as close inside cloud will mean breakdown from upside to downside. At this moment we are on the support line of the cloud and we want to see that this support holds on before go long.

- At this time 09-07 for me it looks like we are going down... BUT hopefully we can go up. I will update post when the signals gets more clear.

-Tedy
Cloud support bottom now, we need to see if the 1D chart wants us more down before we can go back up. 1Day is bear ( middle of cloud, close inside could mean going back to the 2k range...)
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