Similarities of now (2019) and then (2015) showing that the bottom is already in and after some months of consolidation we will start seeing higher and higher prices.
* RSI 2019: the RSI peaked at 96.2700 on the ATH then dropped to 43.800, near the level it is currently consolidating. The bearish MA cross took place with the RSI at 53.550. 2015: the RSI peaked at 96.6500 on the ATH then dropped to 44.100, where it consolidated until the bullish MA cross validated the start of the next bull market. The bearish MA cross took place with the RSI at 53.750.
* MACD 2019: After the bearish cross we had 7 straight months of descending bearish readings. The bearish cross took place with the RSI at 53.550. 2015: After the bearish cross we had 7 straight months of descending bearish readings. The bearish cross took place with the RSI at 53.750.
Technically the next bullish MA cross justifies the next bull market and should keep from now on an ascending bearish sequence until the cross. October 2019 can be the date. The RSI should be around 57.100.
For me we are trading on the most optimal buy levels and although Bitcoin will consolidate some more for a few months, such a long term opportunity most likely won't come along again.
We should be looking at the bigger picture. The same picture that some took advantage of 4 years ago.
Love your higher low to higher high prediction. You can see this really well on the 1D timeframe as well. We're in a long with a stop loss update every 4 hour. Best of luck guys!
TradingShot
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@TradeIndicators, Good work. Are you willing to go short at some point and trade the range?
TradeIndicators
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@TradingShot, Yes, we have a sell stop order at the blue stop loss line for the long position so we are always set and ready to take advantage of the long and short breakouts. It's kind of an advanced technique but it's making our traders a lot of money. I can explain it more if you would like. I talk about it on the videos a lot.
Boon2
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I'm still very much bearish, I see no buy setups at this stage. BTCUSD H4 Update, Z down? Checkout the idea detail's and all the update's for the complete picture.
TradingShot
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@Boon2, Same chart over and over again for quite some time. There is no need to keep re posting it if you have no updates.