Crypto Short

If you don't know how to get in and out of a trade when you trade on daily, then try this approach. That is very effective in stock market as well as in crypto according to my experience. Here is a running example of bitcoin, where it is long since 6000 since the RSI9 is above the RSI14. The exit plan is when RSI9 falls on or below the RSI14. If RSI9 stretches down further i.e. below 46, it is a short opportunity. Update: July 24, 2018 Here we are again, back with this trade. See yourself how good the reversal was based on this.

Bitcoin is on its way to confirm the reversal pattern. Here are the series of events that happened post the longest bearish trend (50-days long). June 23 was marked as swing zone based on Fibonacci Time Extension. The next day prints a Dragonfly Doji pattern,   which is traditionally a bullish sign. Attempted a panic sell situation but the price couldn't free-fall. Instead, BTC gradually dropped below 6K. Further drop could only put the CMF or volume higher resulting in a strong bullish divergence. This was also notable on the momentum indicators such as RSI. Note that we have not see so many bullish divergences of RSI in case of BTC. We have seen two major bearish divergences near psychological levels (20k, 10k). While the Awesome Oscillator shows twin peaks with some buyers strength. Here is another daily chart with other indicators. Note the swing zone 21 and the follow-up Doji. Conclusion: It is clear that the reversal pattern might b...