When we are at all time highs and profits have been taken its difficult to know if we are going to keep going higher or if we will retrace.
Well here is my strategy; the first port of call is to look at he signals which have been the strongest in defining the previous breakouts that got us to where we are now. The cloud is a great place to start for this and one of my favorite indicators for a breakout. With that and looking at suitable time frames for the current momentum in the market, the 15 minute time frame seems to give the best indicator for a breakout. Note, this is not a timeframe i normally use but as i say, based on the momentum & velocity of this market at the moment, it seems relevant to me.
That being said, i am looking for another TK cross similar to the previous two before adding to my position. I still believe BTC has legs to go higher, this dump was incredibly bullish in the way it retraced. Assuming there is no significant negative news i think $15-20k is possible with bias towards the lower range, but lets see how things develop.
Also looking to add at retracement to the tenkan and kijun on the 2 hour.
Happy trading and good luck.
FILBFILB
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We crossed.
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Looking to add at 11400 after this strong breakout.