Hi,
Whether Bitcoin is in a correction that would lead to a further DIP or lead to another ATH of 72,000 USD or thereabout, my focus is on what is shown and can be picked from the chart. I have added a customized indicator to the chart for your viewing pleasure. Basically, the indicator/strategy triggers Buy Signals when the price of the asset is above the HMA (200) from the Daily Time Frame, and/or when other conditions, such as a Bullish Engulfing Pattern on the One Hour Time Frame, or the Morning Star Candle pattern forming on the Six Hour Time Frame, are met.
The indicator on the BTCUSD Daily Chart has closed 6 trades with a Profit Factor of 62.35 and a Net Profit of 21.51%. The Second to the last entry yielded 27.47% profit and had a run-up of up to 57.33%, while the last trade that opened on the 2nd of October, 2021 closed on the 17th of November, 2021 and yielded 25.33% profit with a run-up of up to 44.11%. So my time of entry will be when the indicator picks up another Buy Signal. And I think, as long as Bitcoin stays above 46,000 USD it could still be considered bullish.
Other Cryptocurrencies I’m watching: ETHEREUM, DOT and ARPA. These cryptocurrencies followed BITCOINS pattern closely;
The indicator on the ETHUSD Daily Chart has closed 25 trades with a Profit Factor of 5.288 and a Net Profit of 164.94%. The Second to the last entry yielded 5.19% profit and had a run-up of up to 42.44%, while the last trade that opened on the 3rd of October, 2021 closed on the 17th of November, 2021 and yielded 24.23% profit with a run-up of up to 43.65%.
The indicator on the ARPAUSD Daily Chart has closed 10 trades with a Profit Factor of 12.2 and a Net Profit of 84.59%. The Second to the last entry yielded 117.12% profit and had a run-up of up to 210.36%, while the last trade that opened on the 15th of October, 2021 closed on the 19th of November, 2021 and yielded 3.04% profit with a run-up of up to 90.45%.
The indicator on the DOTUSD Daily Chart has closed only 1 trade. The trade opened on the 2nd of August, 2021 and closed on the 16th of November, 2021. It yielded 143.05% profit with a run-up of up to 205.2%.
So when next any of these pick and moves into the green trail, it could be profitable to stay in until the trail turns red.
Bitcoin is still bullish.
Cheers.
Whether Bitcoin is in a correction that would lead to a further DIP or lead to another ATH of 72,000 USD or thereabout, my focus is on what is shown and can be picked from the chart. I have added a customized indicator to the chart for your viewing pleasure. Basically, the indicator/strategy triggers Buy Signals when the price of the asset is above the HMA (200) from the Daily Time Frame, and/or when other conditions, such as a Bullish Engulfing Pattern on the One Hour Time Frame, or the Morning Star Candle pattern forming on the Six Hour Time Frame, are met.
The indicator on the BTCUSD Daily Chart has closed 6 trades with a Profit Factor of 62.35 and a Net Profit of 21.51%. The Second to the last entry yielded 27.47% profit and had a run-up of up to 57.33%, while the last trade that opened on the 2nd of October, 2021 closed on the 17th of November, 2021 and yielded 25.33% profit with a run-up of up to 44.11%. So my time of entry will be when the indicator picks up another Buy Signal. And I think, as long as Bitcoin stays above 46,000 USD it could still be considered bullish.
Other Cryptocurrencies I’m watching: ETHEREUM, DOT and ARPA. These cryptocurrencies followed BITCOINS pattern closely;
The indicator on the ETHUSD Daily Chart has closed 25 trades with a Profit Factor of 5.288 and a Net Profit of 164.94%. The Second to the last entry yielded 5.19% profit and had a run-up of up to 42.44%, while the last trade that opened on the 3rd of October, 2021 closed on the 17th of November, 2021 and yielded 24.23% profit with a run-up of up to 43.65%.
The indicator on the ARPAUSD Daily Chart has closed 10 trades with a Profit Factor of 12.2 and a Net Profit of 84.59%. The Second to the last entry yielded 117.12% profit and had a run-up of up to 210.36%, while the last trade that opened on the 15th of October, 2021 closed on the 19th of November, 2021 and yielded 3.04% profit with a run-up of up to 90.45%.
The indicator on the DOTUSD Daily Chart has closed only 1 trade. The trade opened on the 2nd of August, 2021 and closed on the 16th of November, 2021. It yielded 143.05% profit with a run-up of up to 205.2%.
So when next any of these pick and moves into the green trail, it could be profitable to stay in until the trail turns red.
Bitcoin is still bullish.
Cheers.