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An important flashback to a previous Adam and Eve Double bottomhere we have on the 1 day chart, back on a very important day in bitcoin(September 15th, 2017), something extremely worth noting the importance of. You can see where I've circled on the volume chart the tall green bar for that day...this green bar just so happened to be the biggest bull volume swell of the entire year of 2017 and it was exactly 3 months later on December 15th that bitcoin hit it's all time high. I originally assumed that this volume bar was the main catalyst for that all time high and later after the low in February, when we received yet another huge bullish volume burst that was even somehow slightly bigger than this one, I anticipated that we may get lucky and reach a new all time high 3 months from february 6th (May 6th)....at the time I had only that to go on...until the possibilities of an Adam and Eve double bottom to lift us out of are current dip started becoming a real possibility and then I decided to look back to this september catalyst to check and low and behold we formed an adam and eve double bottom during its volume spike too...which further convinces me both that we are about to have a valid adam and eve double bottom...and an eventual bullish breakout that then eventually leads to a new All time high. This is nothing but a little bit of history repeating...so if we do complete this adam an eve double bottom I think a new all time high around may-june is entirely feasible. I haven't heard anyone else yet say they spotted this so I wanted to be the first to put this idea out there to help get others to notice it...I haven't checked the moving averages with it but it wouldnt surprise me if there was a death cross somewhere around this time frame too...I will check after I initially post this idea and if there is I will notate it in the update section. Cheers!
BITFINEX:BTCUSD
by DrDovetail
6
What hints to expect if the Adam & Eve Double Bottom is ValideHi all just wanted to gie you an idea of what to watch for if this bigger Adam and Eve double bottom is valid. If it is the size I'm projecting, then the bottom is likely already in at $6420 back on Easter(aka Jesus' resurrection and possibly btc's resurrection?) so far we have just established a higher low on the 4hr chart after the higher high we had of 7500 so we need now to establish one more higher high on the 4hr to give control of price action back to the bulls...we will probably form a higher low on the 1 day chart before that happens though so be on the lookout for a higher low on the 1 day as that hasn't happened yet. If we can achieve a higher high on the 4 day that will be a great sign. If the Eve bottom truly is forming the way I think it is we should also on the next retracement only go down to around 6520-6660 max before picking back upward...as you can see by the symmetrical arc I gave it (which in crypto things rarely prove to be that symmetrical but it's just a rough guideline to go by) we have reached the end of the downward motion and should start sloping upwards if so we won't be going under 6800 again after the 15th of april....and if this is correct we should be back above 10400 by may 15th but we could also easily break above that and validate the adam and eve far before that since things are never quite that symmetrical. To reach those heights by May 15th would be excellent, and when you realize that the volume spike we got on february 7th is larger than the one from last year that 3 months after it happened we got the alltime high...there's very good reason to believe that we may be able to reach another all time high some time in May. Breaking above the 10400-10500 area and closing above it by may should trigger the eve shoulder and send us upward to 14700 or so...an from there the FOMO that kicks in could easily take us above our all time high...especially with all this news of institutional investors entering the market, and people like rockefellers creating venture funds for crypto and george soros getting involved in crypto...it all hints at a very bullish turnaround very soon. So for the longterm at least I am long so this idea will be long...but in the immediate day or 2 we may drop back down to the uppers 6500s-6660 region and then by the 15th of this month i dont think you'll see us get below 6800 again. You choose your own path however as this is not financial advice. Good luck and thanks for reading!
COINBASE:BTCUSDLong
by DrDovetail
Bitcoin: BTCUSD Saturday Update and Next Trade Points Bitcoin Saturday Update and Next Trade Points Bitcoin went into the weekend looking like it was just a matter time before it broke lower still. All that consolidation below structure to the left of price was saying that no-one wanted Bitcoin above 6666. By 22:00 gmt this level really had taken on major significance. The number of the beast or no, it was also now the dividing line between Bitcoin staying negative and flipping back to positive. Then at around 01:50gmt there was a massive whale attack. And although primed for just such an event this weekend, we've never seen an attack out of far East like this for months now. It was big volume - a serious attack. The trigger for the next long was a break above 6670. Since then Bitcoin has surged up to test the junction of the fixed and dynamic resistance lines at 6909 with an intra day high at 6917 on Bitfinex. Now it needs to consolidate some more and is doing so by unwinding in a 100 point range with support underneath provided by the 6817 line here. Can either close out here around 6868 for 218 points profit overnight or stay with it with a stop under 6800 for 120 or so profit if struck. Am doing former as it's the weekend, looking to re-enter long only once 6909-6950 range is broken above, looking for a rough 400 point rally to 7266 minimum and more likely to 7431. On downside support at 6818-6800 line must continue to hold up on retests today for Bitcoin to remain positive from here. A break below 6800 will tip Bitcoin back into bear territory and trigger the next near term short from here if we see it, back to 6666 - where it should bounce again. We are still stuck in the range with the weekend ahead. Unless 6950 can be broken above that looks likely to remain the case for a while longer this weekend - but with some decent near term trading opportunities ahead of us all the same.
BITFINEX:BTCUSDLong
by sumastardon
11
Bitcoin: BTCUSD Key Levels and Breaks for Sunday Trades Bitcoin Bitfinex Feed Sunday Update The first short yesterday from 7049 was stopped out at 7061 for a 12 point loss. Bitcoin went on to make a high after that at 7071 - a poor stop by 12 points. This is my bad here, not the chart's - just a poorly judged spot for the stop. Sorry for that one. Anyway the second time it broke 7050 gave another chance to short and this time when it next counter-rallied the high was 7038 and the short stayed good if you took it on the second time around. The low today is 6615 on Bitfinex. Last gasp support today lies in an 80 point range from 6615 down to 6535. Bitcoin should try a rally attempt from here so look to close out shorts in this range. The next short from here triggers once 6600 is broken, aiming for another test of 6000 with stops 50 or more higher once broken. On upside some day traders will reverse long down at these levels for a test of the falling dynamic at around 6850 but it's quite a risky trade and until that same litttle dynamic is broken to the upside Bitcoin will remain vulnerable. The rally we are seeing now should stop there and day traders will likely close out longs there at around 6863. Bitcoin will have to break above this dynamic for the rally to be worth following higher to 7221 with stops under the dynamic when broken above. But any potential swing longs will have to wait for 7221 to be broken above to follow long with stops 50 or more lower. Until we see that happen Bitcoin remains under pressure but cannot be shorted again from here until 6600 breaks.
BITFINEX:BTCUSD
by sumastardon
12
bearflag expands ; are we looking at another descending wedge?For now I stay neutral because sure there's plenty of bearish signs in the market but there is also what appears to be another smaller fractal like descending wedge pattern forming as I have indicated here with the light tan trendlines...These patterns are pretty bullish and Haejin Lee also hypothesized after the last descending wedge that we would rise up and former a smaller fractal of that descending wedge which is kind of what it appears we are potentially doing...of course if this bear flag decides to break bearishly then the potential of triggering a massive head and shoulders that could send us to 5100-5400 is possible...but if we don't confirm a bearish break below this wedge we might instead see a nice bullish break upward to subvert the bearish head and shoulders....Head and shoulders can often be tricks for example the last descending wedge was hidden inside a fake head and shoulders....this could once again be the case....we are sitting at a pivotal moment of limbo where the side it breaks on will determine a big fall or rise. Be careful tread wisely and make good decisions...this is not financial advice. Lastly based on the recent two candles having a trendline that connects them we can expand the ebarflag and see that it likely hasnt been broken yet and is instead bigger than we had originally seen wich happens alot with flag patterns.
BITFINEX:BTCUSD
by DrDovetail
4
XMRUSD MONERO LONG!!!Inverse head and shoulders forming on the 4h time frame with a break and retest of neckline occurring. 4h also reveals the formation of a higher high On the Daily, there is bearish convergence on the RSI, signalling a trend reversal to the upside. Price on the Daily has also rejected the 61% fibonacci previously and has done so again. This is also reinforced by the lower bound of the wedge formation, creating strong support. Price is expected to test the higher bound of this wedge formation at which our TP will be set Entry:$214 TP: $320 SL:$178
BITFINEX:XMRUSDLong
by MayerFX
Ascending wedge drop target dropped to the exact length of wedgeJust wanted to show you all how the purple ascending wedge once it was broken out of dipped the exact height and angle of the wedge...so a very reliable pattern. Also wanted to note that we now have 2 4 hour candles that have closed below this head and shoulder neckline with the bulls desperately trying to lift it back up above the neckline...so far on the 1 day chart though we have yet to close below the neckline...I wouldn't consider it a definite breakout until I see 2 1 day back to abck candles close below the neckline...but with 2 closing below it on the 4 hour its definitely not a good sign. Hoping for a false breakout because if it is a valid breakout you can see by the red dotted trendline that it would take us all the way down to the red fib retracement level....which would be lower than both the grey ascending trendline which has acted as extremely strong support multiple times since last July and would take us even further down than the bottom we hit in February. So if you see today's 1 day candle close under the neckline be prepared to play the short game waiting on 1 more 1 day candle for confirmation. If the bulls can find a way to get the 1 day to close above the neckline...then there's still a slight chance for a ltitle more downside possibly finding good support at the ascending grey trendline or if it breaks below that at the same price we found februarys bottom at.....Once we find a clear bottom that is likely the time I will go fishing for extreme bargains in the alt coin market, but the way this head and shoulders is looking right now, there's a chance we could dip into the $4,000s before then. I certainly hope not but if so I intend to find a way to allow the dip to make more more btc in the process. You make your own decisions however as this once again is not financial advice. Best of luck.
BITFINEX:BTCUSD
by DrDovetail
BTC hits ascending wedge drop target, flirting w/ h&s breakdownBTC has just reached the target price drop of the ascending wedge breakdown shown by the purple dashed line. WWhile it doesn't surprise me it hit this price, it does worry me, because now we are in real danger of breaking below the neckline of this current head and shoulders..we have already sent a wick below it. In order to break it we will need at least 2 closes below the neckline on the 4 hour chart. Even then its not a guarantee that its not a fake breakout but the probability and odds are then at that point greatly in favor of a successful breakout. However 2 closes on the 1 day chart under the head and shoulders neckline will indeed signal a valid head and shoulders pattern. If this happens we may possibly plummet below my grey ascending trendline and possibly dip even lower than februarys low which is a very scary thought. So these next few candles are clutch. I'm still hoping we will eventually find strong support and a huge bounce back up from either the grey ascending trendline or just under it at the same price as februarys low thereby creating a massive double bottom pattern. The latter would probably be preferable, as it would have greater potential to take the price far higher. Anyways be careful out there if you aren't already still short, and you see 2 confirmation candles below the hea and shoulder neckline it may be wise to go short at least until right above the grey ascending trendline or possibly right above it if you are fishing to trigger a limit with a wick. A more adventurous trader may try to put their limit buy back in just above the low of february. As of right now technically the inverted head and shoulders pattern is also still in play because we haven't gone below its head but I have taken it off the chart currewntly as to not muddy up things with overlapping h&s patterns.
BITFINEX:BTCUSDShort
by DrDovetail
4
GBP/CAD WHERE ARE WE HEADED?Patiently waiting for this pair to break to the downside, prices could plummet at the 1.84000 Region OR we could see some real bearish action near the 1.86000 Region! You could potentially jump in on this trade to the upside TP's of 1.84000/1.86000. However be very careful because I'm expecting a sharp reversal very soon so if you manage you risk, I guess you could get exposure both long first and then eventually short. SHORT ON THIS IN THE NEAR FUTURE. When this trade eventually does break I'm anticipating prices to approach the 1.64000 Region , this might take quite some time, however patience is needed in this market! BE SAFE GUYS!
Short
by Graignm09
XPloRR MA-Trailing-Stop Strategy on KBC(KBC) beats Buy&HoldLong term MA-Trailing-Stop strategy with Adjustable Signal Strength to beat Buy&Hold strategy None of the strategies that I tested can beat the long term Buy&Hold strategy. That's the reason why I wrote this strategy (link see below). Purpose: beat Buy&Hold strategy with around 10 trades over a period of 10 years (average of 1 trade/year). 100% capitalize sold trade into new trade. My buy strategy is triggered by the fast buy EMA (blue) crossing over the slow buy SMA curve (orange) and the fast buy EMA has a certain up strength. My sell strategy is triggered by either one of these conditions: the EMA(6) of the close value is crossing under the trailing stop value (green) or the fast sell EMA (navy) is crossing under the slow sell SMA curve (red) and the fast sell EMA has a certain down strength. The trailing stop value (green) is set to a multiple of the ATR(15) value. ATR(15) is the SMA(15) value of the difference between the high and low values. The script shows a lot of graphical information: One green area represents one trade The close value is shown in light-green. When the close value is lower then the buy value, the close value is shown in light-red. This way it is possible to evaluate the virtual losses during the trade. the trailing stop value is shown in dark-green. When the sell value at the end of the trade is lower then the buy value, the last color of the trade will be red (best viewed when zoomed) the EMA and SMA values for both buy and sell signals are shown as a line the buy and sell(close) signals are labeled in blue How to use this strategy? Every stock has it's own "DNA", so first thing to do is tune the right parameters to get the best strategy values voor EMA , SMA, Strength for both buy and sell and the Trailing Stop (#ATR). Look in the strategy tester overview to optimize the values Percent Profitable and Net Profit (using the strategy settings icon, you can increase/decrease the parameters) Then keep using these parameters for future buy/sell signals only for that particular stock. Do the same for other stocks. Important : optimizing these parameters is no guarantee for future winning trades! Here are the parameters: Fast EMA Buy: buy trigger when Fast EMA Buy crosses over the Slow SMA Buy value (use values between 10-20) Slow SMA Buy: buy trigger when Fast EMA Buy crosses over the Slow SMA Buy value (use values between 30-100) Minimum Buy Strength: minimum upward trend value of the Fast SMA Buy value (directional coefficient)(use values between 0-120) Fast EMA Sell: sell trigger when Fast EMA Sell crosses under the Slow SMA Sell value (use values between 10-20) Slow SMA Sell: sell trigger when Fast EMA Sell crosses under the Slow SMA Sell value (use values between 30-100) Minimum Sell Strength: minimum downward trend value of the Fast SMA Sell value (directional coefficient)(use values between 0-120) Trailing Stop (#ATR): the trailing stop value as a multiple of the ATR(15) value (use values between 2-20) Example for KBC(KBC) (Start capital: 1000, Order=100% of equity, Period 1/1/2005 to now) compared to the Buy&Hold Strategy(=do nothing): Fast EMA Buy=12 Slow SMA Buy=55 Minimum Buy Strength=56 Fast EMA Sell=12 Slow SMA Sell=55 Minimum Sell Strength=95 Trailing Stop (#ATR)=3 Result: 22.7 times better than Buy&Hold strategy NetProfit: 590% #Trades: 19 %Profitable: 63% Buy&HoldProfit: 26%
EURONEXT:KBC
by XPl0RR
XPloRR MA-Trailing-Stop Strategy on AB-Inbev(ABI) beats Buy&HoldLong term MA-Trailing-Stop strategy with Adjustable Signal Strength to beat Buy&Hold strategy None of the strategies that I tested can beat the long term Buy&Hold strategy. That's the reason why I wrote this strategy (link see below). Purpose: beat Buy&Hold strategy with around 10 trades over a period of 10 years (average of 1 trade/year). 100% capitalize sold trade into new trade. My buy strategy is triggered by the fast buy EMA (blue) crossing over the slow buy SMA curve (orange) and the fast buy EMA has a certain up strength. My sell strategy is triggered by either one of these conditions: the EMA(6) of the close value is crossing under the trailing stop value (green) or the fast sell EMA (navy) is crossing under the slow sell SMA curve (red) and the fast sell EMA has a certain down strength. The trailing stop value (green) is set to a multiple of the ATR(15) value. ATR(15) is the SMA(15) value of the difference between the high and low values. The script shows a lot of graphical information: One green area represents one trade The close value is shown in light-green. When the close value is lower then the buy value, the close value is shown in light-red. This way it is possible to evaluate the virtual losses during the trade. the trailing stop value is shown in dark-green. When the sell value at the end of the trade is lower then the buy value, the last color of the trade will be red (best viewed when zoomed) the EMA and SMA values for both buy and sell signals are shown as a line the buy and sell(close) signals are labeled in blue How to use this strategy? Every stock has it's own "DNA", so first thing to do is tune the right parameters to get the best strategy values voor EMA , SMA, Strength for both buy and sell and the Trailing Stop (#ATR). Look in the strategy tester overview to optimize the values Percent Profitable and Net Profit (using the strategy settings icon, you can increase/decrease the parameters) Then keep using these parameters for future buy/sell signals only for that particular stock. Do the same for other stocks. Important : optimizing these parameters is no guarantee for future winning trades! Here are the parameters: Fast EMA Buy: buy trigger when Fast EMA Buy crosses over the Slow SMA Buy value (use values between 10-20) Slow SMA Buy: buy trigger when Fast EMA Buy crosses over the Slow SMA Buy value (use values between 30-100) Minimum Buy Strength: minimum upward trend value of the Fast SMA Buy value (directional coefficient)(use values between 0-120) Fast EMA Sell: sell trigger when Fast EMA Sell crosses under the Slow SMA Sell value (use values between 10-20) Slow SMA Sell: sell trigger when Fast EMA Sell crosses under the Slow SMA Sell value (use values between 30-100) Minimum Sell Strength: minimum downward trend value of the Fast SMA Sell value (directional coefficient)(use values between 0-120) Trailing Stop (#ATR): the trailing stop value as a multiple of the ATR(15) value (use values between 2-20) Example for AB-Inbev (ABI) (Start capital: 1000, Order=100% of equity, Period 1/1/2005 to now) compared to the Buy&Hold Strategy(=do nothing): Fast EMA Buy=9 Slow SMA Buy=30 Minimum Buy Strength=40 Fast EMA Sell=16 Slow SMA Sell=63 Minimum Sell Strength=40 Trailing Stop (#ATR)=8 Result: 2.27 times better than Buy&Hold strategy NetProfit: 1002% #Trades: 11 %Profitable: 63% Buy&HoldProfit: 440%
EURONEXT:ABI
by XPl0RR
XPloRR MA-Trailing-Stop Strategy Galapagos(GLPG) beats Buy&HoldLong term MA-Trailing-Stop strategy with Adjustable Signal Strength to beat Buy&Hold strategy None of the strategies that I tested can beat the long term Buy&Hold strategy. That's the reason why I wrote this strategy (link see below). Purpose: beat Buy&Hold strategy with around 10 trades over a period of 10 years (average of 1 trade/year). 100% capitalize sold trade into new trade. My buy strategy is triggered by the fast buy EMA (blue) crossing over the slow buy SMA curve (orange) and the fast buy EMA has a certain up strength. My sell strategy is triggered by either one of these conditions: the EMA(6) of the close value is crossing under the trailing stop value (green) or the fast sell EMA (navy) is crossing under the slow sell SMA curve (red) and the fast sell EMA has a certain down strength. The trailing stop value (green) is set to a multiple of the ATR(15) value. ATR(15) is the SMA(15) value of the difference between the high and low values. The script shows a lot of graphical information: One green area represents one trade The close value is shown in light-green. When the close value is lower then the buy value, the close value is shown in light-red. This way it is possible to evaluate the virtual losses during the trade. the trailing stop value is shown in dark-green. When the sell value at the end of the trade is lower then the buy value, the last color of the trade will be red (best viewed when zoomed) the EMA and SMA values for both buy and sell signals are shown as a line the buy and sell(close) signals are labeled in blue How to use this strategy? Every stock has it's own "DNA", so first thing to do is tune the right parameters to get the best strategy values voor EMA , SMA, Strength for both buy and sell and the Trailing Stop (#ATR). Look in the strategy tester overview to optimize the values Percent Profitable and Net Profit (using the strategy settings icon, you can increase/decrease the parameters) Then keep using these parameters for future buy/sell signals only for that particular stock. Do the same for other stocks. Important : optimizing these parameters is no guarantee for future winning trades! Here are the parameters: Fast EMA Buy: buy trigger when Fast EMA Buy crosses over the Slow SMA Buy value (use values between 10-20) Slow SMA Buy: buy trigger when Fast EMA Buy crosses over the Slow SMA Buy value (use values between 30-100) Minimum Buy Strength: minimum upward trend value of the Fast SMA Buy value (directional coefficient)(use values between 0-120) Fast EMA Sell: sell trigger when Fast EMA Sell crosses under the Slow SMA Sell value (use values between 10-20) Slow SMA Sell: sell trigger when Fast EMA Sell crosses under the Slow SMA Sell value (use values between 30-100) Minimum Sell Strength: minimum downward trend value of the Fast SMA Sell value (directional coefficient)(use values between 0-120) Trailing Stop (#ATR): the trailing stop value as a multiple of the ATR(15) value (use values between 2-20) Example for Galapagos (GLPG) (Start capital: 1000, Order=100% of equity, Period 1/1/2005 to now) compared to the Buy&Hold Strategy(=do nothing): Fast EMA Buy=12 Slow SMA Buy=39 Minimum Buy Strength=40 Fast EMA Sell=12 Slow SMA Sell=45 Minimum Sell Strength=95 Trailing Stop (#ATR)=3 Result: 3.15 times better than Buy&Hold strategy NetProfit: 2370% #Trades: 21 %Profitable: 71% Buy&HoldProfit: 752%
EURONEXT:GLPG
by XPl0RR
XPloRR MA-Trailing-Stop Strategy on Apple(AAPL) beats Buy&HoldLong term MA-Trailing-Stop strategy with Adjustable Signal Strength to beat Buy&Hold strategy None of the strategies that I tested can beat the long term Buy&Hold strategy. That's the reason why I wrote this strategy (link see below). Purpose: beat Buy&Hold strategy with around 10 trades over a period of 10 years (average of 1 trade/year). 100% capitalize sold trade into new trade. My buy strategy is triggered by the fast buy EMA (blue) crossing over the slow buy SMA curve (orange) and the fast buy EMA has a certain up strength. My sell strategy is triggered by either one of these conditions: the EMA(6) of the close value is crossing under the trailing stop value (green) or the fast sell EMA (navy) is crossing under the slow sell SMA curve (red) and the fast sell EMA has a certain down strength. The trailing stop value (green) is set to a multiple of the ATR(15) value. ATR(15) is the SMA(15) value of the difference between the high and low values. The script shows a lot of graphical information: One green area represents one trade The close value is shown in light-green. When the close value is lower then the buy value, the close value is shown in light-red. This way it is possible to evaluate the virtual losses during the trade. the trailing stop value is shown in dark-green. When the sell value at the end of the trade is lower then the buy value, the last color of the trade will be red (best viewed when zoomed) the EMA and SMA values for both buy and sell signals are shown as a line the buy and sell(close) signals are labeled in blue How to use this strategy? Every stock has it's own "DNA", so first thing to do is tune the right parameters to get the best strategy values voor EMA , SMA, Strength for both buy and sell and the Trailing Stop (#ATR). Look in the strategy tester overview to optimize the values Percent Profitable and Net Profit (using the strategy settings icon, you can increase/decrease the parameters) Then keep using these parameters for future buy/sell signals only for that particular stock. Do the same for other stocks. Important : optimizing these parameters is no guarantee for future winning trades! Here are the parameters: Fast EMA Buy: buy trigger when Fast EMA Buy crosses over the Slow SMA Buy value (use values between 10-20) Slow SMA Buy: buy trigger when Fast EMA Buy crosses over the Slow SMA Buy value (use values between 30-100) Minimum Buy Strength: minimum upward trend value of the Fast SMA Buy value (directional coefficient)(use values between 0-120) Fast EMA Sell: sell trigger when Fast EMA Sell crosses under the Slow SMA Sell value (use values between 10-20) Slow SMA Sell: sell trigger when Fast EMA Sell crosses under the Slow SMA Sell value (use values between 30-100) Minimum Sell Strength: minimum downward trend value of the Fast SMA Sell value (directional coefficient)(use values between 0-120) Trailing Stop (#ATR): the trailing stop value as a multiple of the ATR(15) value (use values between 2-20) Example for Apple (AAPL) (Start capital: 1000, Order=100% of equity, Period 1/1/2005 to now) compared to the Buy&Hold Strategy(=do nothing): Fast EMA Buy=12 Slow SMA Buy=45 Minimum Buy Strength=40 Fast EMA Sell=19 Slow SMA Sell=45 Minimum Sell Strength=106 Trailing Stop (#ATR)=8 Result: 2.3 times better than Buy&Hold strategy NetProfit: 6900% #Trades: 7 %Profitable: 71% Buy&HoldProfit: 2938%
NASDAQ:AAPL
by XPl0RR
1
We officially have gone above the neckline!We are officially above the neckline on the 4hr chart!! And with only 4 minutes left to go before this 4 hour candle closes...we may actually close this candle above the neckline! Very exciting time to be invested in btc! Now remember folks we still even if it closes above the neckline on the 4 hr chart are going to need the next 4 hr candle to close above it as well...we also want to see a huge swell in bullish volume to help confirm it. Also always good to double check indicators such as mac d and rsi to be safe....the biggest confirmation won't be until we have closed to 1day candles above the neckline...however 2 4hr candles closing above is a really good sign...I would even tread lightly and wait for a 3rd 4 hr candle if I was being super conservative. We may very well see the price dip back udner the neckline as a false breakout initially though so be prepared if that happens I imagine it will only take another day or 2 max before we get a legitimate breakout. Of course, this could be the legitimate breakout and we might not even ahve to worry about any fake outs. Best to be patient and see just to be safe though.
BITFINEX:BTCUSDLong
by DrDovetail