Bitcoin

4 jul

April 4th some of the oscillators that you see on bitcoin in trading View suggests that the market is very bearish. this is why oscillators are so unreliable. there's another consideration here and that is the importance of finding a time frame that will give you much more clarity than other time frames.... and in this case the monthly chart is the time frame that yields the most useful clarity for me. once I find that time frame I can adjust to other time frames and work my way to a trading decision if I think one is available. even if you don't trade Bitcoin, you really should study the thought process that I used to decide that this is a good trade location to take a long trade with a small stop. I believe this is a high probability trade to go higher. but you need a small stop because it barely shows buyers and I know this will be a difficult long trade for many or most Traders who think the market should be going lower. the fact is I can't make the market go higher somebody else has to do that.... nevertheless this is a reversal at the bottom of arrange box that showed you there were buyers but it ended up being a bear flag and the market made one more low.... and those buyers could have made money if they had gotten out at the 382 or short the market when it only went to the 382 and started going lower.... they could have had two trades the first is a buyer and the second is a seller.... and if they missed those trades they'll probably have a chance to take a long trade when the markets open on the next trading day....... I talked about optical illusions and I probably didn't integrate the thought very well on this video... so I'll try it another way the market found buyers at a support area but it made a new low which makes that pattern A Bear Flag. bear Flags end up being a bearish move to a bullish reversal.. to me trading a bare flag at a support area is not a stupid trade because it will go higher but if it gets to a resistance then the markets telling you the Market's going to reverse. try to think about this and I'll clarify it on another video... but not tonight.