The Cosmic Flow indicator is useful in helping decide whether a symbol is following a dynamic channel or not, and if it is, how large or small of a channel it is.
This particular tactic has the indicator cloned with the Resistance Length and Support Length values inverted.
The output shows that the current price is inside a relatively wide channel (roughly $30-50K) inside of which it historically does not spend a great deal of time.
As it has just tested the bottom of the channel with half the weekly bar time left to expire, it will likely either break through this bottom (in which case the next support will be around $20K), or rise to test the top of the active channel (roughly $50K).
This particular tactic has the indicator cloned with the Resistance Length and Support Length values inverted.
The output shows that the current price is inside a relatively wide channel (roughly $30-50K) inside of which it historically does not spend a great deal of time.
As it has just tested the bottom of the channel with half the weekly bar time left to expire, it will likely either break through this bottom (in which case the next support will be around $20K), or rise to test the top of the active channel (roughly $50K).
📣 Ask on Reddit: shorturl.at/BILRZ
👀 Watch on TikTok: shorturl.at/gzAPW
🚩 Disclaimer: the information created and published here is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors
👀 Watch on TikTok: shorturl.at/gzAPW
🚩 Disclaimer: the information created and published here is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📣 Ask on Reddit: shorturl.at/BILRZ
👀 Watch on TikTok: shorturl.at/gzAPW
🚩 Disclaimer: the information created and published here is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors
👀 Watch on TikTok: shorturl.at/gzAPW
🚩 Disclaimer: the information created and published here is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.