Bitcoin update 26.feb.18, Still correcting. New TA tool introduce

in #bitcoin6 years ago

Today I'll start using another tool in my TA, the fancy SuperGuppy.

This is a collection of moving averages, and the idea is to use fractal repetitions to identify points of agreement and disagreement which precede significant trend changes.

Super Guppy Traders Group of EMAs are:

  • EMA3 to EMA23 step 2 (Aqua=Uptrend, Blue=downtrend)

and Investors Group EMAs are:

  • EMA25 to EMA70 step 3 (Lime=Uptrend, Red=downtrend)
  • (Gray=Trend not established or in a Pull Back).

The tool is found in Tradingview

In today's chart the new small bar of blue tell a short term fall in price could still be expected. We also have a red Trend Break Arrow in the C wave from yesterday.

Learning by doing, if you have experience using guppy tols I'd appreciate your comments.


Ok, back to the familiar charts.
Since yesterday Bitcoin made its way in my green triangle, as the pink one from yesterday proved too high.
This is easy to see in the 30minute chart.

If we get a bounce down again from the top green line I think we will see the correction finished within a couple of days, just shy of the 0.5 fibonacci of 1. blue wave. Here shown in 4hour chart.

I expect volume to close in at the Apex of the green triangle, or we might get another fractal coming.


These are just my thoughts, not a trading advice.
If you have another view on this charts your welcome to discuss and post your charts in the comments.

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It's nice how the worst case scenario don't go to the 5K <3

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