Will We Continue Falling Down? Also Read Content in Description.
Hi Everyone! Is it looking pretty strong for Bitcoin to continue stair stepping down? Sure... Especially, with the Red RSI in the 6 hour currently at level 50. HOWEVER, we must remember downward pressure does NOT mean the price action must continue falling significantly. It's possible to range sideways AFTER a drop during the remaining downward pressure. Just as it's possible to range sideways after legging up during a period of upward pressure. It's NOT guaranteed we continue falling down yet during this period of downward pressure. This is why we must be of the mindset our margin shorts in the scalping group of time frames MIGHT only be for a brief period of time (opened and closed rather quickly). We would be making profits on our margin trading WHILE waiting for confirmation to buy and/or sell -OR- open and/or close our other positions we still have open for a longer period of time with more "cushion" to wait for a longer period of time.
Not sure if this makes sense... I hope it does... If not, it will on another platform after providing more details in a way where you can SEE on a chart what I'm talking about without time constraint of 20 minutes.
There's still a CHANCE for us to range sideways for quite a while until we have a race with the White Energy in the 6h against the Red RSI in the 12h and the White Energy in the 6 hour could potentially win the race or tie and we see the Green Line higher than the energy in the 12min. 23min. 45min. and 90min. and the Green Line on the verge of being higher than the Green in the 3 hour. So, am I prepared to say, "This is it... We're stair stepping down from here?" NO... I'm not prepared to make such a flat statement yet without confirmation. Please do realize the only way to take full advantage of our current moves until we are convinced with a confirmation is by executing margin trades in the scalping group of time frames with guidance from the Short Term Group of time frames.
Not sure if this makes sense... I hope it does... If not, it will on another platform after providing more details in a way where you can SEE on a chart what I'm talking about without time constraint of 20 minutes.
There's still a CHANCE for us to range sideways for quite a while until we have a race with the White Energy in the 6h against the Red RSI in the 12h and the White Energy in the 6 hour could potentially win the race or tie and we see the Green Line higher than the energy in the 12min. 23min. 45min. and 90min. and the Green Line on the verge of being higher than the Green in the 3 hour. So, am I prepared to say, "This is it... We're stair stepping down from here?" NO... I'm not prepared to make such a flat statement yet without confirmation. Please do realize the only way to take full advantage of our current moves until we are convinced with a confirmation is by executing margin trades in the scalping group of time frames with guidance from the Short Term Group of time frames.
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UPDATE:
There is POTENTIAL for the price action to range sideways for a while when looking at the Bollinger Bands CONTRACTING in the 23 minute and 45 minute time frames:
23 minute:
45 minute:
There is POTENTIAL for the price action to range sideways for a while when looking at the Bollinger Bands CONTRACTING in the 23 minute and 45 minute time frames:
23 minute:
45 minute:
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UPDATE:
Simply posting a follow-up of the 23-minute to show how the price action played out.
Simply posting a follow-up of the 23-minute to show how the price action played out.
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UPDATE:
24h Time Frame:
24h Time Frame:
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Ideas relacionadas
12m, 23m and 45m time frames let you know when to CLOSE a short and prepare to open another margin short -OR- margin long. Keep in mind our White Energy is higher than the Green Line in the 45 minute. Which meant the move up will be a lower high most likely. That rule applies with ANY TIME FRAME.