Wow, we are in some critical times in BTC's history! To keep it as simple as possible; we are looking for price to show the signs of the beginning form of a "higher low" when we look at our monthly (+) timeframe.
It is also important to see the pressure that is currently placed on the buying side of the channel of the downtrend we see when looking at the weekly chart (-). A break from this channel + further confirmation on intraday timeframes would begin demonstrating further the nature of the beginnings of a higher low when going back to the monthly candlestick view. These are places where new investors and patient traders are very likely to put their money where their mouth is.
"Where there is buyers, there are sellers.", meaning that this chart is showing potential areas for volatility. I personally find that its best to remain neutral (as a trader), and allow the market to break key areas and trendlines first before making a properly managed risk.
I own Bitcoin, and I trade it also.
I am publishing a 1H chart to show how important a close can be on a low timeframe, but the reality is that any serious player in the game is looking at price movement from a much larger one. You can find other perspectives and larger timeframe chart analysis' regarding Bitcoin in my previous publishings.
Critique my work! Let me know your thoughts in the comments section, and tell me what you think Bitcoin is going to do in the coming weeks. Be sure to like my page and follow me for more market ideas and chart analysis.
As always, happy trading and good luck!
It is also important to see the pressure that is currently placed on the buying side of the channel of the downtrend we see when looking at the weekly chart (-). A break from this channel + further confirmation on intraday timeframes would begin demonstrating further the nature of the beginnings of a higher low when going back to the monthly candlestick view. These are places where new investors and patient traders are very likely to put their money where their mouth is.
"Where there is buyers, there are sellers.", meaning that this chart is showing potential areas for volatility. I personally find that its best to remain neutral (as a trader), and allow the market to break key areas and trendlines first before making a properly managed risk.
I own Bitcoin, and I trade it also.
I am publishing a 1H chart to show how important a close can be on a low timeframe, but the reality is that any serious player in the game is looking at price movement from a much larger one. You can find other perspectives and larger timeframe chart analysis' regarding Bitcoin in my previous publishings.
Critique my work! Let me know your thoughts in the comments section, and tell me what you think Bitcoin is going to do in the coming weeks. Be sure to like my page and follow me for more market ideas and chart analysis.
As always, happy trading and good luck!
