Don't Buy Without High Confidence.An update of BITSTAMP:BTCUSD which I posted a couple days ago. We still on neutral stance which means keep holding if you have bought Bitcoin until a clear exit point occurs, and if you're not then don't buy anything just yet. We need higher confidence before pouring all that hard earned money, so wait until MACD enter its positive phase, then wait for another 2 positive bar (2 days), and then go long if everything is up: price closes above tenkan & kijun lines, and chikou lines closes above all the lines including the price candle.
You can also try higher risk moves by checking 4H chart, but you really have to know what you're getting into. On 4H charts indicators (any kind indicators really) will presents many fake breakouts, but may be mitigated with going shorts if the price on 1D closes below the kijun / slow line and the MACD shows negative value while doing so.
Overall, my stance is still the same: continuation of this pattern will be reflected on 1D charts which is a perfect signal of the bullish sentiment, which in turn will be reflected in 1W charts which is also a perfect signal of 2017 bull run to make its attempt to reappear.
This is a personal analysis, not meant as any kind of financial advise.
