Bitcoin (BTC) consolidations can be tough to chart. We came up with 9420 as a level that may be important for intraday traders.
9420 looks like a pivot point because it is the high volume price since the big explosion up. Here's how we would use that point. If XBTUSD is above 9420, Bitcoin (BTC) and big coins could rally, and alts might decline. If XBTUSD is below 9420, Bitcoin (BTC) might slump, and alts might do better.
Bottom Line: Coming up with good pivot points involves trial and error. Let's see how well 9420 works as a pivot, and we can go from there.
9420 looks like a pivot point because it is the high volume price since the big explosion up. Here's how we would use that point. If XBTUSD is above 9420, Bitcoin (BTC) and big coins could rally, and alts might decline. If XBTUSD is below 9420, Bitcoin (BTC) might slump, and alts might do better.
Bottom Line: Coming up with good pivot points involves trial and error. Let's see how well 9420 works as a pivot, and we can go from there.
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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.
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.