Hi Riders, Bitcoin has been going sideways for the last 25 days (while still being on a bearish trend) and NASDAQ going sideways for the last 40 days, however a big move is coming soon as the gap between prices and Rider Band has dissapeared, as trend is currently bearish, chances are higher for bearish continuation.
This sideways movements had given us plenty trade opportunities on lower timeframes the last month. Specially the 1hr and 4hr signals have been very accurate.
Regarding our indicator, we released last week a couple of new features on our Trend Rider algo #2, make sure you check it out https://www.trend-riders.com/post/trend-rider-algo-2 , I am really loving the new RSI extremes sub-indicator.
Now let's take a look at the charts.
Still bearish for $BTC and $NASDAQ
Blue Rider Band (TR Algo 1)
Bear Label (TR Algo 1)
Price inside dark red area (TR Algo 2)
As long as trend is bearish, lower timeframe shorts are more profitable than longs.
2. BOUNCE SIGNALS
No bounce signals on the daily timeframe right now.
Blue circle and TP signals present.
Orange circle present on the Weekly timeframe 3 weeks ago in nasdaq and last week on BTC. This is a positive sign of a potential bigger bounce on the making, now first step is to see those signs on the daily chart again first.
3. DCA PERSPECTIVE
Bitcoin is at good levels for DCA, however always consider that price can still go lower (probably 15K). Personally, i am waiting for pink/purple circles to DCA again.
NASDAQ, just bought some when we approached the red line, right now i would wait.