a supply and demand study with my own VFI & FVE indicators . Red/green are monthly zones blues are weekly zones .
Background: Bitcoin has been in an ascending channel (past 48 hours), within a larger descending channel (past 9 days). This is the last leg of a combination correction starting after we reached 58k in late February. Of note the 61k was an ambitious corrective B wave, confusing a lot of traders who expected a breakthrough. The fact that this correction dragged on...
Bitcoin formed a pennant over the past two weeks. Many of us were expecting deeper corrections to follow the strong downtrend on 13/14 March, but the market found strong support at 53k and reversed rather decisively the next day, climbing eventually to retest 60k. Since then volume has consolidated into a pennant pattern with a slight bullish bias by 4 degrees...
So here we are again, another day of bearish ranging in the low to mid 50s. On the day chart we see an ascending triangle shaping up nicely. We are also in a second day of negative VFI which indicates continued bearish movements short term. If we look at the last two impulses up on the supertrend they were preceded by 5-6 days of negative VFI before swinging...
Note of caution- this could mean nothing compared to the continued bearish price action for BTC, but VFI as a momentum indicator can indicate future growth when you see the VFI moving bullish against bearish price movement. Run a tight stoploss on your shorts today, VFI could prelude a swift reversal, but its not guaranteed, other indicators like MA indicate a...
This is a way to track the move or trend of any instrument. Works very well when tracking BTC, Stocks, Dollar Index, ETH, Forex, as tested and also any other instruments such as futures. A modified RSI, VFI and WMA are used to confirm each move with technical indicators.
4hr Strong signs of EUR/USD trend reversal in my vfi crossover & vwap setup
Crazy run up, wish I bought in earlier. But looks like a good time to take a little profit, with an aim for reentry around the 50MA (blue line) and the Yellow Kijen line. I put Pink squares around areas around areas of interest where the pattern repeats, it seems to have played out a few times already.