Using the hidden support and resistance lines of trading assets we see here BTC has tested the 1.618 to the downside twice now which represents the end of a move some of the time. Usually the 2 fib is the clear end so from this chart we gain no directional clarity other than knowing exactly where we stand. Going to scale down time frames to the 1 hr. to see if...
So if you saw my previous Idea we sold off Spx500 and now we're going to get another entry to Short off the Yellow Trend line on the 1Hour time frame. This also conforms well with the RSI Trend Line. You can also find hidden Support on the 4 hour RSI
If any of these trend lines are broken, meaning that candles close above them then I will be closing my positions.
So there's a few good reasons this is a good short.
1. Using the Rsi you can see it's being pinched against the 70 levels very tightly now. It should break through that trend line holding as support.
2. Price has reached a Resistance level set by the 3 peaks that occurred in October-December
3. Pretty good Inverted Hammer that occured on 2/25/19
4. Spx500 has had...
