๐ The BITCOIN PROFIT-TAKING SYSTEM #3 is for those people who want to stay long Bitcoin 99% of the time but would like to add some profit along the way .
๐ Bitcoin is higher but I am still waiting for the volume to confirm another potential intermediate high
The 24hr volume BTC is the number of Bitcoins used to trade AltCoins on Bittrex and Poloniex .
I am watching the Volume price high closely . The System # 3 is a Sell to exit long position only pattern.
It works like this: I have circled two volume highs on the chart and the btc price also made intermediate highs then as well . Now I'm thinking that as Bitcoin runs up again in price in new highs I should be watching the volume on this chart and if the volume makes two consecutive highs above 300,000 and Bitcoin price making new highs at the time I record the data (7:00 EST) I will be selling some of my Bitcoin and then watch for Two consecutive volume below 300,000 to repurchase the Bitcoin that I sold .
๐ Two consecutive volume highs above 300,000 and Bitcoin price making new highs at the time I record the data (7:00 EST) = Sell to exit your long Bitcoin
๐ Next watch for Two consecutive volume below 300,000 = Repurchase the Bitcoin you sold
๐