The Market Is Tricky

Bitcoin strength at 03:44, for careful testing.

It's too soon to say if Bitcoin works with this indicator but if price reaches these levels, I would say to continue testing the strength/weakness. However, even if the weakness/strength is not reliable, the location of BTC reading will still be reliable at identifying when price s likely to move in one direction or the other.

Here are the BTC trades so far, taking the BTC strength at 03:44 according to here https://www.forexfactory.com/thread/...9#post15788119 with indicator analysis starting at 03:00.

I personally don't think Bitcoin will be reliable with this type of analysis to identify strength/weakness, but this is fine because when there is an indicator reading for Bitcoin, it will still identify the area where trade can be taken in either direction. It will be a matter of identifying whether the price is currently in a breakout in order to just make an entry, or if the price is in a range and to place pending orders for a breakout.

Price hasn't quite reached the first horizontal line but if it does, I would say testing the strong/weak for Bitcoin is still valid on this indicator. Here are the trades so far.