Felix000
Long

#crypto #bitcoin cautious buy potential here's why Y/N

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Have just analysed three sections since Decemebr 2017 high when Signal line was below zero (brown histogram) and have marked them out in three zones in the chart above A,B,C.

I've extended the third zone to end of July but don't really know when Signal line will cross over into positive territory again.

Here's what has made me think different.

Previously in downturns where the Signal line (brown histogram) has resumed a downturn together with the MACD (blue histogram) the MACD went negative after the Signal line.

On this occasion the MACD went negative before the Signal line which leads me to believe this time the market is headed up to higher highs.

Also when the Signal, Histogram, and MACD did the above business most recently all the days were green candles whereas before they were red.

Price is holding above the green trend line which is also a positive. The market previously also crossed a red downtrend line.

If the green trend line can hold, and the market not close below $6,250, I am now cautiously bullish (Long).

Breaking my research down into three zones A, B, C using the signal line (brown histogram) is what made me cautiously change my view from bear to bull.

NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH.
Comment: Also previously the MACD had gone negative after the Histogram went negative. This time it's in reverse - first the MACD went and then the histogram. There was also one previous occasion when they both went negative on the same day.
Comment: It was a tough decision to switch to cautiously long after negatives like price closing below the low between two Williams Fractal highs. I'm OK for now as long as green trend line holds, and the market does not close below $6,250 ($6,219.7 would be another option).

NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH.
Comment: Just noticed that my MACD Settings could be different to Trading View Default Settings.

Mine are:-

Fast Length 6
Slow Length 13
Source: Close
Signal Smoothing 31

Trading View Default Settings Could Be:-

Fast Length 12
Slow Length 26
Source: Close
Signal Smoothing 9

I may revert at a future date.

NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH.
Comment: As my MACD Settings are different it could just be that I'm on the right wavelength for a winning trade (or not).

NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH.
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