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Schiff Pitchfork

AVAXUSDT (1H) Long ThermThe information contained herein has been prepared for general information purposes only. The comments and recommendations contained herein are based on the personal opinions of commenters and advice givers. It should not be interpreted as a recommendation to buy or sell any investment instrument or a promise of return. These views may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results that meet your expectations.
Long
by Fibo114
MACY'S Weekly Technical AnalysisM weekly - No RECOMMENDATION or ADVICE Status / EDUCATIONAL only - Support, Resistance, Trend Lines, Confluence, Cluster, Modified Schiff Pitchfork, Fibonacci Extension - Hope it Helps, Good Luck DISCLAIMER - This communication is not trading or investment advice, recommendation or solicitation to buy, sell or hold any investment product is provided for informational, educational and research purposes only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The author or persons involved in the conception, production and distribution of this material cannot be held responsible for transactions or any financial loss or damages resulting directly or indirectly from the use or application of any concepts or information contained in or derived from this material. Past performance is not indicative of future results. Any person who chooses to use this information as a basis for their trading assumes all the liability and risk for themselves.
NYSE:M
by BahamasX
SILVER FUTURES Daily Technical AnalysisSI1! Daily - No RECOMMENDATION or ADVICE Status / EDUCATIONAL only - Support, Resistance, Trend Lines, Cluster, Confluence, Rectangles, Pitchfork, Modified Schiff Pitchfork, Fibonacci Extension - Hope it Helps, Good Luck DISCLAIMER - This communication is not trading or investment advice, recommendation or solicitation to buy, sell or hold any investment product is provided for informational, educational and research purposes only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The author or persons involved in the conception, production and distribution of this material cannot be held responsible for transactions or any financial loss or damages resulting directly or indirectly from the use or application of any concepts or information contained in or derived from this material. Past performance is not indicative of future results. Any person who chooses to use this information as a basis for their trading assumes all the liability and risk for themselves.
COMEX:SI1!
by BahamasX
Andrews' Pitchforks are FunHere's an example of a pitchfork drawn on the 2 weekly BNC:BLX chart, measured from the March 2020 low to the Nov 2021 high and completed at the Nov 2022 low, and then extended in direction and levels (up to 9 levels can be added). The chart above makes for a solid example of how pitchforks can be used to derive a trend or channel and find solid support and resistance levels within it. They are also just fun to work with! There are several types of pitchforks which can be tested until you've found one that works best for your chart. They are called Andrews' Pitchforks because they were originally developed by Alan Andrews, with several derivatives created by modifying calculation for the placement of the pitchfork's handle (the slope of its median line): Normal Pitchfork - Andrews' original pitchfork tool. Schiff Pitchfork - moves start of the handle line halfway to the base of the channel. Modified Schiff Pitchfork - handle start is adjusted by a distance equal to half the difference between price values of its first two points (first low and high, or first high and low) of three. Inside Pitchfork - handle adjusted to half of the vertical & half of the horizontal distance between the first two points of three. In the example above, I chose a Modified Schiff Pitchfork , and then identified 3 points of consecutive highs and lows. In this case: low -> high -> low. You can choose to do the opposite of this and start from high -> low -> high, typically your first point should represent the beginning of a new trend. Play around with trying this in different timeframes, and also try editing / adding / removing levels. You can try basic levels at increments of 25% or by utilizing classic Fibonacci levels (or both, as shown above). Pitchforks are a type of Fibonacci tool, so I like using classic Fib levels. You could just use the Fibonacci Channel tool and get a similar result. But, the nice thing about utilizing a pitchfork is that it can help you identify a channel that may not be immediately obvious. Here is another example of using a Modified Schiff Pitchfork to derive trends on a popular altcoin, BINANCE:HBARUSD : Thanks for reading, I hope this was helpful to you. I learned more about pitchforks myself while working on this, and encourage others to do the same!
BNC:BLXEducation
by dudebruhwhoa
XRP - I CAN HAZ GARTLEY NOW?Hey crew, forgive my radio silence here, coding up a storm and generally strapped for time but let's do a quick breakdown on this beauty eh? As I've repeatedly stated, XRP ALWAYS pumps before a dump. Here are some key points : XRP, similar to staked tokens has a massive escrow and when they release tokens, there's usually a distribution pattern shortly thereafter All the market-wide carnage from bankruptcies, fraudsters, SEC and regulatory uncertainty has clearly NOT yet fully manifested All "relief rallies" must come to an end and The Bear is NOT over (imho) So we've def got a Gartley now, no question and there looks to be a Wyckoff distribution painted on the chart here. I personally just stick to Fibs and Forks for my placements and use DCA always to hedge and minimize risks with the following portfolio objectives : 1. Take scalps 2. Increase holdings 3. keep portfolio "in profit" at all times using shorts to hedge against high probability down moves So that's it folks, hope you stay in the green and as always, not investment advice here, we still have a date with the 0.10 cent range :) ~ Box
by FudBox
3
LINKUSDT Exiting Ending Diagonal from the last impulsive wavePrice action, based on Elliot Waves principles, is falling from peak after complete an Ending Diagonal from the last extended impulsive wave to a potential target at local demand in hourly timeframe in a possible 78,6% retrace as shown on AB=CD pattern, below volume POC and after reject Anchored VWAP from May '22 bottom. Consolidating in a parallel channel as shown within a modified Schiff Pitchfork. Potential swing-downward in a corrective wave target to Dec '22 low re-test. Monthly Inside Bar zone.
Short
by firmestudio
1
BTC Comprehensive UpdateYes, this is a 20 minute video. But I speak quickly. This Idea is meant to be watched as a video. If you do not watch the video and only read below, you will not get much from this idea or may get the wrong idea. Overall I have been short (Not in market) since the reversal in the stock market on April 5th and 6th. I go over all this in the video and I talk fast. So there is a lot of information to see. I don't want to put investment strategy short, because I don't really want to say that where the price currently is, is a good spot to short. It seems odd to too heavily before any non crypto markets are open, but after they closed for the weekend. Considering the market was pretty obviously bear on Thursday and Friday. Possible targets if we drop below 28k and have some bad price action are then to around 26.9k and most likely between 22.35k and 23.3k. For me to feel bullish on BTC I would have to see several things. It is too complicated to explain without showing the chart, but I mention it in the video. It is worth the watch. I reference the most important things that I look at to determine bitcoin price movement. Based on the Schiff pitchfork, It looks like the lack of movement in BTC is actually distribution and that we have failed to hold the key channel (Jun 1st). We also had a hard rejection of the top of the current channel on Jun 6th. If you have any questions feel free to leave them below.
BITFINEX:BTCUSD
by TrendLINEBoys
Community Discussion - Bitcoin and goldBefore you fall off your high horse, you crypto cowboys - I have been in Bitcoin since 2011. I'm one of the lucky ones, this post isn't a "Bash at crypto" it's about giving you some insights, some logic and something to consider when making an argument for both the pros and cons. So to start with; one topic that I feel many newer retail traders and social influencers are confused about, is the definition of store of value. There's a debate about bitcoin being one or not - there is also a question as to will Bitcoin become a digital gold or is it more likely a payment system (think Swift or visa). When defining a store of value we can simply say - it's social construction, if enough people agree it will have an intrinsic future value then it could be deemed as a store of value. The argument often goes something like "But it only has 21m coins - EVER" That is not enough of an argument to justify why we can warrant and justify $100k a coin, $1million a coin. In gold terms - Gold was used as a form of "transfer" during the Egyptian, Samarians and Incan era's. However, gold wouldn't be used as widespread money until 2,500 years later, back to Egypt where they did use gold bars in set weights for exchanges, although the most common method of exchange was mass commodity bartering for a long, long time. The social construction meant that it was a rare earth material that could be easily divisible, weighed and therefore transferable. I often see arguments online about "how do you carry all this gold" Bitcoin can fit in my pocket, "ah send gold to Ukraine, ah what if the boat is sunk?" This is small mindedness and the argument is only to justify, re-enforce even - one's own beliefs. You can easily say what if you lose a private key - there's a fellow Welshman who's 50,000 Bitcoin is currently sat in a landfill site. Both can be lost, stolen and confiscated - so don't be fooled, yes you might own a strong of words that constitute as a private key but with the KYC & AML - governments will end up with more control and traceability when it comes to crypto. Like it or not, its fact. So the upside; Knowing the difference between money and currency; As I noted, in France - they seem to call crypto "Crypto-Money" I found it interesting when I first heard this with my broken French. But logically it makes sense. But what does it matter? Well, it matters really as to crypto/Bitcoin becoming a digital store of value or a payment exchange mechanism. You Maxies will say "it's both" again, this can't be. For one simple, obvious reason - RISK ON vs RISK OFF. Another well used argument for orange pilling retail is "Bitcoin is a hedge against inflation" then this argument turns into, well look at what it did back last year. Which is no different than me saying I could run the 100m in 11 seconds flat at 16. Now at 37, I'd be lucky to do it in 20 ;-) What you need to think about is not the small picture, but the long term adoption. What will drive it to become a standard. A dream and the desire to own a Lambo one day is not enough. Which then comes back full circle, how do we socially engineer - with a compelling argument that Bitcoin can be, either a payment system infrastructure for things like taxation, loans, salaries, ease of audit for the governments. Or a store of value - digital gold? ---------------------------------------------------------------------------------------------------------------------------------- Dig a little deeper; The first official declaration of gold as money came around 600 BC, where King Alyattes of Lydia, an ancient kingdom in modern-day Turkey, oversaw the first recorded mint. An alloy of silver and gold known as electrum was used to create coins, which were stamped with pictures that denoted denominations. Other civilisations soon followed suit, with Darius I of Persia introducing a 95.83% pure 8.4g gold coin, which was worth 20 silver coins. Much like the centralised monetary systems of today, Darius saw the minting of coin as a royal prerogative and gave the death penalty to Persian governors who tried to mint their own coins. Fast foreword from there - President Ulysses S. Grant, drafted a policy to sell Treasury gold at weekly intervals to pay off the national debt, stabilize the dollar, and boost the economy. What this means is that the value of each dollar could be measured using the weight of gold (rare earth material) this is what I believe we are lacking for true Bitcoin adoption - the truest form of stability. To beat a 7%+ inflation rate, you can't be buying Bitcoin at 69k and be happy as an inflation beater at it's current 39k levels. Jump foreword again; President Richard Nixon announced a bold economic plan, severing of the U.S. dollar's ties to gold. This was a critical point in time - The US had a large gold reserve, they in essence become a type of banker for the world. Other countries would exchange gold for dollars meaning the US where in fact exporting their own paper in exchange for rare earth materials. Other countries would use this paper system to exchange everything from chocolate, to crude oil. When Nixon changed this, countries become fearful that the dollar had less spending power, driving less security (creating risk on) most countries then started returning the dollar in exchange for their gold back. (dollars where now just an IOU). In modern day terms this flows into the companies around the world, retail traders and of course the general public. But one thing is very, very interesting. When the stock market falls off - money flows out and back into gold. Here's the Dow Jones 2007-2009 period: And here's the gold chart same period: The only reason I included this here, is that although it is obvious, it's not obvious to all. The point I'm making is that we need to consider that if all payments are made in bitcoin - no reason to cash out; what will happen to the risk on/risk off situation? So we buy a share in Amazon let's say and that's currently $2,910 - we have Bitcoin at $39,150. Now Amazon goes up 5% but Bitcoin drops 12% where do we run? Or do we just claim "diamond hands, buy the dip" It's these types of discussions I would love to discuss and have a wide array of opinions and thoughts from the community. Gold has been a store of value for thousands of years, other currencies (actually 100%) of other currencies have all gone to zero value. Why will a new contender be any different? Let's get the discussion started! If you haven't seen my Bitcoin moves - see this below. I compiled a post of the last year of publicly available posts and each swing/move as to why I was seeing the moves like this. I've also covered a ton of lessons here in this post - click on the image to see them all. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSD
by Mayfair_Ventures
7
Bitcoin 2022 peak/blowoff top based on Fib pointsto get to this possible Expanding Cycle Theory mentioned by Nicolas Merten on Datadash Youtube channel I am taking a different approach to see if this theory has any teeth to it and apparently it does if applying Fib points to it. I am using the Schiff Pitchfork and also the Fib Channel as points to give me the most number of touches on Fibs as possible. All the hand icons are pointing to touchpoints on the Fib channel which are numerous and also using the Schiff Pitchfork as a future peak for BTC. When we look at the November date for this peak we do see an intersection between the Fib channel and the Schiff Pitchfork pictured by Sun in yellow. This price is about $165,000 which is close to Nicolas"s $150k price projection. If we also look at the top of the Beam band we can see that there is a good possibility Bitcoin could hit over $300k if we visit the top of the Beam band as well. Of course this is speculative as Bitcoin could achieve this peak into the 2023 year as well, we really don't know for sure but it is interesting to see what is possible with Fib points.
GEMINI:BTCUSDLong
by altcoinb
4
How to Accurately Read My Schiff PitchforkAnother link to the Schiff Pitchfork idea is also below in "Related Ideas" : I realized that sharing my Schiff Pitchfork idea may not have been sufficient enough to allow others to be able to use it efficiently and accurately. I wanted to make a video that shows people how I use the Schiff Pitchfork to trade and analyze; Along with some extra tips. The video is 20 minutes, but well worth it and shows my analysis for BTC since I have came back to charting this January 13th. In related links, you can also find the idea "BTC End above 41,700 potential". That idea shows some of the analysis on the movements during those times. Thank you for watching the video. I hope you enjoyed it. Stay Healthy and Stay Safe.
BITFINEX:BTCUSDEducation
by TrendLINEBoys
BTC Update For the DayQuick note, I think being on the bottom of the median line of the Schiff pitchfork is one of the worst places to be bullish, unless good support was just found. Also you can check my idea "How I analyze the market in 20 minutes" video if you want a better understanding of how I use APPL to gauge what direction BTC will take and sometimes vice versa. I'm still bearish until: 1) I see a good open for APPL and the price of APPL is back within the Day Hull averages on Tuesday. 2) BTC can make some moves above 39.5 (Median of the week timeframe). I was hoping the start of this week/end of last week would have BTC on the topside of 39.5k, not the bottom side. From a candle movement perspective, I see no real reason to buy BTC past 41.7k-42.7k on this week candle. And even buying it to that spot makes no sense to me unless BTC can push above 39.5 and hold. On the month timeframe BTC has yet to touch the bottom of the blue channel (.25 retracement), but since the top of the candle base on the last month was reached and rejected, it feels odd to make the argument that it will hold. I think 30-31k looks like a decent place to try and find support, though if the stock market is bearish when BTC reaches that area or somehow overly bullish on Tuesdays open, I will adjust the target. 30-31k is the .5 extension on the week and month timeframe respectively. 3 Levels, each looks worse as it pushes down (to me anyway) 39.5k Week Median line 38,988 Week 375 hull 38,036 Month Median line
BITFINEX:BTCUSDShort
by TrendLINEBoys
3
Best and Easiest Explanation of Where BTC and The Market StandsIf you haven't been to my streams or watched my content this year, then believe me when I say that this video will be worth while. Even to a seasoned analyst, I believe the way I look at things will add a useful new perspective. EST = UTC-5 I stream every week day from 9:20 EST to 10:00 and from 1:20 EST to 2:20. I believe I currently have ~50 Hours of stream content since Jan 28th. Feel free to watch that to better understand how I analyze and trade. I spend on average 5 minutes for a trade entry and 5 on a trade exit. I call what options and when I trade options on stream every time ; down to the strike price and the expiration date. I like to be transparent. I also will give my opinion/targets on any coin or stock for free. I don't expect payment/coins for anything.
BITFINEX:BTCUSD
by TrendLINEBoys
1
BTC/USD updateLet’s have a look at BTC/USD using as many indicators as i can. The purpose of my post as always is not price predication but more education on what these various indicators and squiggly lines are indicating. As you can see on this Bitstamp 1d chart, BTC is in a Descending Triangle Pattern ‘potentially a Bearish Continuation’ as well as a Falling Wedge Pattern ‘potentially a Bullish Reversal’ on this 1d timeframe. If we look at the Schiff Pitchfork Pattern (A,B,C) we can see that BTC is still below the Schiff Pitchfork Median Line. BTC is still above its Lower Yellow Schiff Pitchfork Support Line, a close below this level will possibly result in BTC revisiting its previous low of around $39,580, a close below that will take BTC down to its 50% Trend-Based Fib Extension level at around $38,536. At the moment BTC is fighting to get back above its 38.2% Trend-Based Fib Extension Level. BTC is still below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. Note that the Middle, Upper and Lower Bands are all sloping downwards and we have slight expansion of the Lower Band. BTC is getting really close to to testing its Least Squares Moving Average (LSMA) as support on this 1d timeframe. If BTC closes a daily candle below the LSMA then that is potentially a sell signal. Looking at the Ichimoku Cloud with the 20,60,120,30 settings: The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the Mid Point of the Short-Term momentum is sideways at the moment. The Ichimoku Cloud Base Line (Kijun Sen) is indicating that the Mid Point of the Mid-Term momentum is sideways at the moment. The Ichimoku Cloud Lagging Span (Chikou Span) is indicating that the momentum at the moment is downwards. Note that the Lagging Span (Chikou Span) is still under the price from 30 Periods ago, this is not good a good sign. BTC is still well within the Bearish Zone of the Ichimoku Cloud, note that the Leading Span A (Senkou Span A) resistance level is pointing downwards further confirming nagative momentum. We should expect even more of a drop if the Leading Span B (Senkou Span B) starts to point downwards in parallel with the Leading Span A (Senkou Span A). Let’s take a look at 4 different Momentum Indicators and see what each are telling us on this 1d timeframe. Looking at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is pointing slightly downwards at the moment indicating slight Negative Momentum. The MACD Line (Blue Line) is still above its Signal Line (Orange Line) but it is still in the Negative Zone under the 0.0 Base Line and note that the Green Histograms are getting lighter and decreasing in size. If the MACD Line (Blue Line) crosses back under the Signal Line (Orange Line) then that will be a sell signal on this 1d timeframe. Note that the MACD Line (Blue Line) has not been in the Positive Zone above the 0.0 Base Line since 18th Nov 2021. Looking at the Average Directional Index (ADX DI) we can see that Negative Momentum is still strong with the -DI (Red Line) at 27.83 and it is still above its +DI (Green Line) which has dropped to 12.05. Note that the Trend Strength is increasing with the ADX (Orange Line) rising to 36.88 and it is still above its 9 Period EMA (Black Line) which is at 36.55. Note that the +DI (Green Line) has not been above the -DI (Red Line) since 15th Nov 2021. Looking at the Chaikin Money Flow (CMF) we can see that accumulation has actually increased with the CMF (Green Line) rising up from -0.24 on the 5h Jan to 0.01 just above the 0.0 Base Line. Note that the CMF (Green Line) is still above its 9 Period EMA (Cyan Line) indicating accumulation strength on this 1d timeframe. Note that the CMF (Green Line) has popped out of the Negative Zone at the moment, note that the CMF has not closed in the Accumulation Zone above the 0.0 Base Line since 24th Dec 2021. Look for a successful daily close above the 0.0 Base Line If we look at the Elder Force Index (EFI) we can clearly see that the Bears are still in control because the EFI Line (Red Line) is still under the 0 Base Line indicating a Negative Elder Force. Note that the EFI Line (Red Line) is also starting to point downwards. If the EFI Line (Red Line) crosses back below its 9 Period EMA (Cyan Line) then that may see continued and faster negative momentum for BTC on this 1d timeframe. Note that the EFI Line (Red Line) has not produced a strong Positive Elder Force signal since 15th Nov 2021. Here is a closer look at this Bitstamp 1d BTC chart: So what does all this tell me for the medium to longterm, it tells me that for the medium to longterm unless BTC starts CLOSING daily candles ABOVE key levels like the Bollinger Bands Middle Band Basis and the Schiff Pitchfork Median Line on this 1d timeframe then we will see continued downwards momentum at worst or sideways momentum within a range at best. The LSMA is a key indicator to watch on this 1d timeframe, just trace back on the chart to see what may happen when the price successfully closes ABOVE or BELOW the LSMA indicator. I hope this post helpful with your understanding of what the above indictors are indicating and i hope this is helpful with your Trading and Hodl-ing.
BITSTAMP:BTCUSD
by TradingThroughTheLens
8
Bitfinex BTC Schiff Pitckfork Insane!This chart is not meant to be looked at from this view. I just want to show an overall picture. The Pitchfork really shows its strength when you look at the action at these trend lines on the shorter time periods such as the 4HR. My last one was able to give me the ability to call most of the action between January and June 2021; ~85%. This one looks pretty good too. I make these to share and because I like looking back on things. I hope this helps someone understand my perspective on btc at the moment. I have a video as well if one is interested. Points for schiff Pitchfork. Low of Jan 12 2015 High of March 09 2015 Low of August 17 2015
BITFINEX:BTCUSDShort
by TrendLINEBoys
BTC/USD updateI have added a Schiff Pitchfork Pattern (A,B,C) to this 1d timeframe. As you can clearly see, BTC tested the Schiff Pitchfork Median Line 7x as support and then that support failed on the 8th time and BTC has closed well below its Schiff Pitchfork Median Line. At the moment, BTC has found some support from its support area highlighted with White Dotted Lines with Yellow Shading. Note that BTC bounced off this support yesterday and today. BTC is below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. Note that we have expansion of the Upper and Lower Bollinger Bands and this expansion is for negative momentum. BTC is below its Least Squares Moving Average (LSMA) for this 1d timeframe. A successful close below the LSMA indicator is considered a sell signal on this indicator and a close above is a buy signal. Note that BTC has not closed a daily candle above its LSMA since the 27th Dec 2021. At the moment of typing this, BTC is trying to stay above the Neckline of the Head and Shoulders Pattern that it is in. Expect further downwards momentum if BTC closes a daily candle below the H&S Neckline. Note that Volume has increased and that the last 2 Daily Volume Bars have closed above its Volume 20 Period MA and today’s volume bar will also close above it. I have added a Trend-Based Fib Extension, you can see that BTC is broken way below its 23.60% level so if the Support Zone fails the next level will be the 38.20% level. Note that a 100% retracement would take BTC to $24,947. If we look at the Moving Average Convergence Divergence (MACD) we can see that we have had a SELL SIGNAL on this 1d chart as you can clearly see that the MACD Line (Blue Line) has crossed back under the Signal Line (Orange Line). The MACD Line (Blue Line) is indicating momentum is still downwards on this 1d timeframe. Note that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Base Line on this 1d timeframe. Note that the MACD Line (Blue Line) has not been in the Positive Zone above the 0.0 Base Line since 18th Nov 2021 on this 1d timeframe. If we look at the Average Directional Index (ADX DI) we can see that Negative Momentum has dramatically increased with the -DI (Red Line) dropping slightly to 30.47. Positive Momentum has dramatically decreased with the +DI (Green Line) dropping to 10.93. Note that the Trend Strength has increased in strength with the ADX (Orange Line) at 32.60 and is back above its 9 Period EMA (White Line) which is at 31.31. Note that the +DI (Green Line) has not been above the -DI (Red Line) since the 15th Nov 2021 on this 1d timeframe. If we look at the Chaikin Money Flow (CMF) we can see that the CMF Line (Green Line) is under the 0 Base Line and in the Distribution Zone. Note that the CMF (Green Line) has not been in the Accumulation Zone above the 0 Base Line since the 24th December 2021. Note that the CMF (Green Line) has risen but is still below its Least Squares Moving Average (LSMA) (Cyan Line) which is a sign of positive weakness on this 1d timeframe. Be on the lookout for when the CMF (Green Line) successfully crosses above the LSMA (Cyan Line) on this 1d timeframe. If we take a look at the Stochastic Indicator (STOCH) we can see that the %K (Blue Line) is still in the Oversold Zone and has crossed back back above the %D (Orange Line). The STOCH is indicating that momentum at the moment is downwards and note that the %K (Blue Line) is starting to look like it may cross back under the %D (Orange Line) on this 1d timeframe. Here is a closer Look at this BTC 1d chart. So what does all this mean to me? If i was waiting to go LONG then i would not get excited until i start to see the MACD Line (Blue Line) move upwards back towards the Signal Line (Orange Line) indicating a potential Buy Signal might be happening. For the LONGTERM, be on the lookout for if/when the +DI (Green Line) crosses back above the -DI (Red Line) on the ADX DI, as well as the CMF (Green line) crossing back above the 0 Base Line into the Accumulation Zone of the CMF indicator on this 1d timeframe. We need BTC to eventually cross above and more importantly CLOSE a daily candle above the Bollinger Bands Middle Band Basis 20 Period SMA and the LSMA on this 1d timeframe. If this happens, be on the lookout for any successful re-test of any previous resistance levels as support. I hope this is helpful with your Trading and Hold-ing.
BITSTAMP:BTCUSD
by TradingThroughTheLens
5