BTC : where are we at???

This is where i stand on weekly :

1. YES we just touched MA200

BUT

2. DMI/ADX not even at conservative bottom levels yet
3. No market cypher b buy signal yet
4. Hash ribbons tell us the miners only just started to capitulate
5. Monthly accumul/distrib chart shows more room for distrib

Conclusion : PATIENCE required

I will detail all indications below.

Happy trading amigo's !

評論:

1. DMI/ADX levels :

Here the double horizontal lines represent the most conservative versus most extreme dmi bottom levels in btc history. With that knowledge one could assume the DI's and ADX will end up between the horizontals somewhere. However, one does also know now that when we go further then both horizontals and thus further than the extremes, we should prepare ourselves to buy some diapers, lots of them

評論:

2. Market cypher b

I will wait for a weekly buy signal here, favorably in combination with a pi cycle low signal.

評論:

3. Hash ribbons only just turned red, miners capitulation just began... the blue buy signal this indicator produces normally comes later than the cypher b signal and pi cycle low. So after buying at pi cycle low, we could use this hash ribbon buy signal as a confirmation of our previous actions.

評論:

4. Last but not least : the main reason i started this post with "yes we hit the 200ma BUT..."

This monthly acc/distr chart clearly shows there is quite some more room for more distribution. This is the indicator that makes me think we might actually cross the DMI levels instead of respecting them... again, in that case everything is possible imo...

評論:

Conclusion : i know it's difficult, especially after many many red weeks BUT, i still think patience is what's required here.

Happy trading, thanks for reading !