Long

Exellent short term long opportunity.

Updated

Wow, I am back in Long.

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This script hasn't called it yet to go long, but it's always behind (the signal doesn't show on the chart until after the bar is closed.)

My first target is the .82, second the .5, and third the .618.

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I meant my first target is the .382

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I know it's crazy, and counter intuitive. This strategy is only 42% profitable, which seems terrible (worse than just flipping a coin.) But look at it's profit. % profitable is definitely not the whole picture in a strategy.

This strategy loses more often than it wins, but when it loses, it loses only small amounts, and when it wins, it wins big. I am more and more becoming a fan of this strategy.

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youtube.com/watch?v=BTHEaF8d8Uc

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Kiss my ass.

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Looks like I jumped the gun on this, guess I should have waited for my signal.

Here is the revised chart though:

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Again, the drop over the weekend was all purely hedge fund driven. They saw the writing on the walls for what happened on the stock market today, and needed to free up cash, so their leveraged positions didn't get liquidated. And selling their Bitcoin speculation was part of how they did it.

It kinda depends on what the stock market does tomorrow, if we get another drop like today, people might have to free up more cash to avoid getting liquidated in their leveraged positions.

But I am still expecting a dead cat bounce from here (both on BTC, and the stock market), before it goes down more.

Ultimately I think the stock market is going to hit that 200 MA on the weekly again. If that holds, it will probably resume it's uptrend, but if it breaks... Folks better get their diapers on.

Not sure what that will mean for Bitcoin? I think by then, most hedge fund managers will be out of BTC completely, so then BTC can just do it's own thing independent of the stock market (perhaps become a safe haven asset like gold again), but we will see.

Trade closed manually

Once again, I was clearly wrong, It's almost like the world against me.

I got stopped out.

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Funny though, I was right on about the stock market.

eb8

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