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Weekly Newsletter

Hi Riders, Bitcoin finally touched our red lines on our Macro View Indicator this monday. So we are going to focus on the macro picture and what to seek for mid-long term entries on this issue.


For daytrading , plan still the same, focus on lower timeframe trades, specially the 1hour timeframe, prioritize shorts at resistance over longs until $BTC gets above 33K. This strategy should be very profitable as we expect some sideways action at current levels for a few days before $BTC decides it next move.


Facts:

  • As long as $BTC does not close below 15K, it's very long term price structure is intact. Below it then it is compromised and we should consider a possible "failure" scenario.

  • There is a lot of long term support between 20 and 22K, three lines on our macro view model coincide on the same levels.

  • Trend Strenght indicator on the monthly chart (Trend Rider Algo #1) is currently displaying an inverted light blue triange, it has only happened once before right at the bottom of a previous cycle.

  • We haven't seen pink or purple colors yet on our macro view indicator which implies that there could still be another wick down.

  • On the daily chart $BTC needs to close above 33K to consider a mid term trend shift.


Conclussion:

  • If we assume that $BTC will continue thriving in the future, then DCA gradually while $BTC is inside the black box is a great idea, specially if pink/purple colors appear.

    • If you do decide to DCA, consider that price can still go down considerably and take a while to recover, so do it for the long term (much better now than when price was above 40k!)

  • if you are more conservative:

    • Wait for $BTC to get back above 33K again.(above daily Rider Band)

    • Wait for a confirmed bounce signal on the weekly. (trend rider algo #1)

      • More conservative: wait for an orange circle on the oscillator on the monthly.

    • Wait until we bounce from pink and purple colors (if we do get those colors) on our MV indicator.


Macro View Indicator


Monthly Chart


1 Comment


I cannot figure out how to put these indicators on an active chart, what am i not doing ?

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