BTC/USD every bit of data in one chart!
Updated
Hello everyone!
I haven't done one of these charts for crypto in a long time but its time to do one again.
Now this chart is a trend following chart, so with that logic this will be the focus:
- Identifying trends
- Why a trend is a trend
- When a trend forms
- how a trend forms
- as much data as possible
- trend progression
- killing noise
The chart has been set out to show the support and resistances, trend lines of former trends, volume progression and trend relation.
the interesting part of the chart is that there have been clear trends, and signs of trends reversing or forming. The yellow circles indicating the price dropping below the support of the 30 MA which has been a support/resistance during trends since the beginning of BTC. The volume indicates that trends usually get started when volume progresses and spikes, volume is a story with the relative vs the absolute in terms of liquidity but for this chart we will mostly ignore that factor. the MA 50 is useful for death crosses and golden crosses on the chart to confirm new trends. Momentum of the RSI agrees with the price cross overs on the 30 MA which strengthens its trend identifying capabilities. last indication we had was a RSI divergence during the rise of up trend 2, something to watch for in the future.
A reminder of trends, trying to catch one before it has properly formed has the risk of getting whipsawed, that is a common risk of trading trends.
as always,
Happy Hunting!
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock/cryptocurrency picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. These are not facts but my personal views and opinions.
I will not and cannot be held liable for any actions you take as a result of anything you read here.
I haven't done one of these charts for crypto in a long time but its time to do one again.
Now this chart is a trend following chart, so with that logic this will be the focus:
- Identifying trends
- Why a trend is a trend
- When a trend forms
- how a trend forms
- as much data as possible
- trend progression
- killing noise
The chart has been set out to show the support and resistances, trend lines of former trends, volume progression and trend relation.
the interesting part of the chart is that there have been clear trends, and signs of trends reversing or forming. The yellow circles indicating the price dropping below the support of the 30 MA which has been a support/resistance during trends since the beginning of BTC. The volume indicates that trends usually get started when volume progresses and spikes, volume is a story with the relative vs the absolute in terms of liquidity but for this chart we will mostly ignore that factor. the MA 50 is useful for death crosses and golden crosses on the chart to confirm new trends. Momentum of the RSI agrees with the price cross overs on the 30 MA which strengthens its trend identifying capabilities. last indication we had was a RSI divergence during the rise of up trend 2, something to watch for in the future.
A reminder of trends, trying to catch one before it has properly formed has the risk of getting whipsawed, that is a common risk of trading trends.
as always,
Happy Hunting!
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock/cryptocurrency picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. These are not facts but my personal views and opinions.
I will not and cannot be held liable for any actions you take as a result of anything you read here.
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Haven't thrown a BTC update in a while but here it is!The price of BTC has been a mixed bag of signals lately and to sum it up it has a bullish bias because of the bullish trend but the resistance is staying the same since 9.8K but we haven't made any lower lows. Expect the price to move violently when a lower low is made and get your parameters for position closing ready.
TLDR; Overal it is a mixed bag of signals with a bullish trend.
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zoomed in a chart showing the resistance we have to break to have a chance of testing the trend resistance ( 9.7K-9.9K).Using a new indicator for trend detection:
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This is why it is important to have parameters set for your trades before you open them, the 9.4K price break being an example that saved the bag!Nothing much to note, pretty standard TA, we haven't found the current trends support but we have a 2 touch points trend resistance line, suggest you keep an eye on that.
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This channel is interesting as the triangle intersects with it quite nicely and we are still bearish 8.2K break + Bearish TK cross is what I'm watching for now.
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This has not been updated in a while but it still holds!Note
Retests keep getting denied.Note
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the idea still holds trueNote
updated with a symmetrical flag break out moving down wards. Trend analysis update and momentum update with the Yume wave 2.0.
It is pretty self explanatory but if you have questions shoot me a DM!
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