Hello!
I provide a free technical analysis for Bitcoin here:
http://www.perfecttrendsystem.com/analysis?sym=BTCUSDBesides trend lines I also draw bullish and bearish divergences on the chart.
The trend lines and divergences are used for entries with a free double top/bottom indicator for MT4. The free indcator can be downloaded here:
http://www.perfecttrendsystem.com/double-top-bottom-indicatorThe double tops and bottoms that are indicated by the free indicator can look like these examples:
http://www.perfecttrendsystem.com/images/Tools/DoubleTopBottom/Double_Top_Botto_Fake_Breakout_real_chart.pngI prefer to trade double top and bottom signals from the time frames M30 and H1.
If you select only those signals from M30/H1 which are in direction of an edge of the bigger picture H4/D1 then you can have very good results.
In the following sketch you can see the concept of double bottoms (M30/H1) within bullish divergences on H4:
http://www.perfecttrendsystem.com/images/doubleTopsBottoms/H4Divergence/H4Div_DoubleBottom_NotLowestLow.pngThe following sketch shows the concept of double tops(M30/H1) within bearish divergences on H4:
http://www.perfecttrendsystem.com/images/doubleTopsBottoms/H4Divergence/H4Div_DoubleTop.png
