BTC, correction or dip soon, buy the dip. Very short timeframe
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.
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.
Kommentar:
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.
Kommentar:
If 7k does not hold, then we test 6400-6700. If that does not hold we test ~6200