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The Market Is Tricky

  • #141
  • Jul 4, 5:38pm (11 hr ago) Jul 4, 5:38pm (11 hr ago)
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  • #142
  • Jul 4, 7:46pm (9 hr ago) Jul 4, 7:46pm (9 hr ago)
Bitcoin strength at 03:44, for careful testing.
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  • #143
  • Jul 4, 11:45pm (5 hr ago) Jul 4, 11:45pm (5 hr ago)
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.
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  • #144
  • Jul 4, 11:46pm (5 hr ago) Jul 4, 11:46pm (5 hr ago)
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.
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  • #145
  • Jul 5, 12:07am (5 hr ago) Jul 5, 12:07am (5 hr ago)
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.
  • #146
  • Jul 5, 2:56am (2 hr 39 min ago) Jul 5, 2:56am (2 hr 39 min ago)
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.
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  • #147
  • Last Post: Jul 5, 3:05am (2 hr 30 min ago) Jul 5, 3:05am (2 hr 30 min ago)
That movement is good enough for me. I would say the strong/weak reading for Bitcoin is still valid on day 2.
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