Long BTC for 'Daily Squeeze' Momentum Play

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTC price dropped slightly to the 8 day EMA . Moved into a long position at 631 with 2/3 of my total and will add 1/3 if it drops to the 21 day EMA . My stop is a close below the 21 day EMA

The squeeze indicator combines bollinger bands and keltner channels to identify when the market is ready to move in a directional manner. Combined with momentum (shown at the bottom), we can get a good idea of which way the trade will move.

In this case, the squeeze triggered when the yellow bollinger band moved inside of the blue keltner channels . Momentum is trending upwards, so I'm expecting BTC to move to the upside.

The last daily squeeze that triggered long was the long run from 440 to 680.


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