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RE: Bitcoin shows extreme strength, lets look at big picture
Hey @quickfingersluc, I love the strategy, however waiting for the base to break on 60 minute charts can take forever! I see a lot of opportunity at lower timeframes but the "Big Base" at 60min may not crack while others higher up do. I would love to hear what your opinions are on lowering timeframe. It is still safe? How far back should we look for bases on lower timeframes? Thanks ahead of time ;) for your input!
Dont try low time frames on kraken because sometimes it takes me 15 minutes to have success at placing an order. . Works for me on bittrex though.
One problem I have on small timeframes is often I find that it wont fill larger orders.
Hey coinhead, thanks for the reply. I was also wondering if I was doing this right. On BTC right now on GDAX there was a break in support/the base along with a few little bounces along the slope. Are we supposed to wait for a big rally back to 4100 (old base) or take these smaller bounces as selling points? Thanks! :)
That depends on how involved you want to be. How much time do you have to be sitting at your computer. If you know its going up to 4100 and you try trading little bounces it can easily get away from you and run up with out you. Especially if you get lost in the little bounces like luck did on his last video. Looks like it came within $50 of your $4,100 I wonder if that base is satisfied. It was a pretty week base I think.