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Consensio: S MA < P < M MA < L with recent death cross
Patterns: Phase 7 hyperwave |
Horizontals: S: $3,512 | R: $3,700
Trendline:
Parabolic SAR: $3,970 and starting to accelerate down
Curve: Backwardation with 3.5% spread
BTCUSDSHORTS: Trying to form higher low, but struggling. If breaks down 22,277 then will be watching for at 19,834. If That breaks down then I expect a retest of the bottom of the range at 10,000
Funding Rates: Longs receive 0.0156%
TD’ Sequential: G2 = G1 | Would pass on entry if trades above due to 9 MA waiting right there.
Cloud: Absolutely loving the traditional settings. The price has been stuck to the bottom edge for 10 candles.
Average Directional Index: Turning up getting ready to challenge 20 while is >
Price Action: 24h: +3.7% | 2w: -1.3% | 1m: +13.1%
Bands: MA at $3,770 should be resistance.
Oscillator: Buy Signal
Summary: I am feeling very grateful that Ugly Old Goat shared his expertise about curves on a series of Medium posts. That is the only thing that kept me from going short yesterday when everything else appeared to be breaking down. Consensio was fullish , we closed below the cloud and below horizontal support.
Nothing else would have kept me out of a short and it is such a strong indicator that it actually made me feel comfortable about holding onto the XRP long.
The more you follow certain indicators and see them work the more you will gain confidence in them. Seeing the bounce today really exemplifies that for me. It makes me really excited about adding that to my toolbelt.
From here I will be watching for a close > $3,800. That would put us back into the cloud, above the MA on the and above all of the MA’s that I use for Consensio. From here I believe the best entry is to wait for price to breakthrough $4,200 and I will be considering setting a stop buy in that area.
Published at Tue, 15 Jan 2019 02:37:52 +0000