www.tradingview.com/chart/wRF9o5LV/
I've been trading BTCUSD since the top and have found the two major MACD divergence patterns to be useful when determining a reversal. I don't mind missing out on 3-6%, maybe even 10% gains when there's an overall increase of 133%. It's impossible to be right all the time at the exact highs and lows. Once I know there's confirmation behind the momentum it's easier to take a position. The same goes for downward losses. I'd much rather lose 5-8% on a limit order before a 54% drop in price.
I think BTC is going lower with swings on both sides of developing trend lines until it confirms a solid base. Until then I'm looking for confirmation like the last two MACD divergence patterns.
I've been trading BTCUSD since the top and have found the two major MACD divergence patterns to be useful when determining a reversal. I don't mind missing out on 3-6%, maybe even 10% gains when there's an overall increase of 133%. It's impossible to be right all the time at the exact highs and lows. Once I know there's confirmation behind the momentum it's easier to take a position. The same goes for downward losses. I'd much rather lose 5-8% on a limit order before a 54% drop in price.
I think BTC is going lower with swings on both sides of developing trend lines until it confirms a solid base. Until then I'm looking for confirmation like the last two MACD divergence patterns.
Comment:
critical that BTC holds support between 42,000 and 39,500 or I believe there will be a substantial downside where BTC may remain below 40K for a period.