I going short for Bitcoin to complete the leg like last time shown in chart. Could take some time yet. Just need to work out where to pace the stop.
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I think I'll place my stop at $10,050 which is where my top Bollinger band was on the two hour chart, on the previous 2 hour bar.
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I'll change stop to $10,100 as $10,050 is to close to a retracement spot.
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My idea on the four hour chart still looks interesting but the shape of the developing Bollinger lines are deviating from the previous pattern and that's currently my only worry here. On the 2 hour chart the Stoch RSI is not matching the previous pattern as expected so I'm going to give up on the ABCD idea in that chart.
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JUST AN UPDATE POSTED ON LATER UPDATES IN CASE YOU MISSED THEM -
10 hours ago - Comment: Looking at my 2 hour chart with the market at $8,758.7 I could go long with a stop loss at $8,560. but signal not yet confirmed just a hunch.
Just now - Comment: This idea on the 4 hour chart has closed out at $9,700. My usual way of studying MACD looking for a crossover down followed by a first trough in the bars which remains the lowest trough before the next crossover back up as a signal to track, looks still good. That's what I saw developing this morning on the 2 hour chart.
10 hours ago - Comment: Looking at my 2 hour chart with the market at $8,758.7 I could go long with a stop loss at $8,560. but signal not yet confirmed just a hunch.
Just now - Comment: This idea on the 4 hour chart has closed out at $9,700. My usual way of studying MACD looking for a crossover down followed by a first trough in the bars which remains the lowest trough before the next crossover back up as a signal to track, looks still good. That's what I saw developing this morning on the 2 hour chart.
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