Felix000
Long

#Bitcoin case for buying strengthening on 4hr chart

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Just spotted William Fractal pattern on the 4 hour chart which I follow. It's yet to complete but judging where the price currently is I believe it is a bullish signal with $8,180 as target. Already found pattern in Stoch RSI which in part links with a pattern in MACD too. Although I would like price to hold above $7,181.5 which is a low reached after the Stoch RSI peaked and follows what happened in previous pattern, the market can go lower but must hold above the retracement levels, you can judge for yourselves which by looking at the previous William Fractal set-ups like this in my chart (the ones with the pink squares). The rising wedge opportunity for a short doesn't look great right now, and could instead add impetus to another leg up #btc_usd #btcusd #bitcoin #crypto
Comment: Market moving lower looking sweet. Would prefer not to see a crossover in MACD based on previous pattern.
Comment: Looks like this whopping 2 hour bar drop was due to an H & S pattern and stopped just where you would expect. No cross over in MACD on 4 hour chart.
Comment: Let's get this H & S move down straight. H $7,509.7 - l $7,253.3 = $256.4 therefore $7,253.3 - $256.4 = $6,996.9 that's close enough to the actual low. If that holds and I'm looking at the 4 hour chart I guess the next 4 hour bar will be green and signal the start of another 5 wave up.
Comment: Could Bitcoin head for lower lows at Wall Street open?
Comment: Right now it looks like Bitcoin could go same way as Wall Street but still there has not yet been the crossover in the MACD on the 4 hour chart.
Comment: Just seen MACD cross appears Wall Street going to dictate everything today. The break in the rising wedge on the 2 hour chart was the best opportunity to short today unless you also managed to spot the potential H & S.
Comment: Going short just noticed price touched my lower Bollinger Band (20, close, 3) on 2 hour chart.
Comment: Also broke one of my Bollinger trend lines on 2 hour chart.
Comment: I sometimes wonder whether I should do the daily, weekly, monthly..... charts. So much less work!
Comment: On the 2 hour chart we now have three Williams Fractals down in a row. The last time they were upward they appear to have signalled a wave one completion upwards.
Comment: I've done some further research on those Williams Fractal coloured boxes which I create in my charts, and the thing is for the pink/purple ones the 50% appears to be seriously important. Therefore $6,967.4 is now a seriously important level to crack otherwise its short the market time.
Comment: Have yet to see a Williams Fractal down arrow on the 4 hour chart to complete my coloured box construction so maybe the idea is to early to add to my other short signals.
Comment: Soon as I can complete Williams Fractal box I will publish an updated super duper 4 hour chart with all the detail I've been following.
Comment: Have cleaned out a lot of clutter from my two hour chart, and will be publishing a new updated one shortly, like I'll do for the 4 hour.
Comment: Global stocks rebounding will that be positive for bitcoin?
Comment: Just published 4 hour chart - short will show up less than 15 min.
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