Felix000
Long

Next 7 dys Move $2,000 - $3,000 Y/N

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
What to watch MACD pattern latest on the 4 hour chart. If the current trough remains the highest trough followed by a crossover on the MACD , I expect a move of thousands over the next week. The key bar is the bar with the lowest trough on the MACD . The bar had a high of 11239 and low of 11076. I believe a move up is underway. Worth a punt with stops around low. In my pattern analysis it has only appeared to reverse and go the other way once, and not shown on chart - happened earlier i.e. first went up then down and made another crossover.
Comment: 4 hour bar appears to be going into minus territory. That should not happen if we wanted the market to go up like before. The only time it started going into minus territory the market started heading down instead of up as expected. There is no guarantee that these patterns will repeat again but it would destroy my argument for the market heading up based on previous pattern spotted.
Comment: 4 hour bar just confirmed minus territory so this destroy argument for the market heading up based on previous pattern spotted. It doesn't mean that it won't continue up on some other basis.
Comment: Could still be a useful observation if market heads down.
Comment: $11,432 Low should hold in current break out
Comment: Just thought I would copy an update from my most recent 4 hour chart observations in here too. The stop loss at $11,432 on the 4 hour chart turned out to be a good idea. The next key bar is the MACD trough that I marked with a square it has a high of $11,239 and low of $11,076. If it breaches $11,076 then market could repeat the pattern that happened 14th January when the market went up and then down. There is always a chance the MACD may complete another recognisable pattern instead of heading down. Most of my work covers only February so far and in not much detail going back to December. I have not seen the 4 hour chart behaving like this before which does not help in trying to pick winners.
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