BitcoinEducation
Wick confirmed by volume rise or not?
Updated
The same way we do higher lows on 4h, thus we do higher highs on daily.
And... on 4h tf, we didnt pass volume buying power the last high (which means this wick is irelevent, and not confirmed the higher high, thus we continue to create lower highs):
Also, if we ignore that wick (which to me isnt confirmed), then we have double top which sits on weak support but with way too many resistances above it.
I personally never look at volume, I look at volume pressure buying/selling power... if we had 1 volume tick that grow above others its only because it triggered way too many bots due to a whale trying to manipulate the market.. but the selling power is still stronger.
Thus why the OBV didnt confirm that tick..
Well, its not like I think that only my perspective is right (each trader has his own way to see the market).
I still think we are breaking this down to at-least 9980..
I am going long only after we really break all the resistances, my perspective is above 10550 ;)
And ofc' confirm the break, not a single wick :P
And... on 4h tf, we didnt pass volume buying power the last high (which means this wick is irelevent, and not confirmed the higher high, thus we continue to create lower highs):
Also, if we ignore that wick (which to me isnt confirmed), then we have double top which sits on weak support but with way too many resistances above it.
I personally never look at volume, I look at volume pressure buying/selling power... if we had 1 volume tick that grow above others its only because it triggered way too many bots due to a whale trying to manipulate the market.. but the selling power is still stronger.
Thus why the OBV didnt confirm that tick..
Well, its not like I think that only my perspective is right (each trader has his own way to see the market).
I still think we are breaking this down to at-least 9980..
I am going long only after we really break all the resistances, my perspective is above 10550 ;)
And ofc' confirm the break, not a single wick :P
Trade active
I will enter short if we cross 9850...Entry: 9849
SL: 10,000
TPs: 10% at 9350, 15% at 8850, 25% at 8350,
10% at 7850, 10% at 7350, 10% at 6850, 10% at 6350.
The last 10% for if we go lower, whereever you decide...
I will enter long if we cross 10550...
Entry: 10551
SL: 10400
TPs: I will update if we enter long positions...
Note
Dependas on the market I might change these values. stay intact, I think we either gonna see real moves between next 3-5 days, or we gonna drag this all out all the way to 15-20/09...
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