Buy Bitcoin Above $4100...Sometimes Simple is Better

Tradingview has a phenomenal amount of useful trading indicators and studies, however a good trader never forgets the basics. Following its sell-off in early September, Bitcoin began consolidating and building a base. A slow upward rise was a slight indication that it would break out of its base to the upside, but we don't trade on "slight indications". One thing notable, when looking at a basic price volume chart of Bitcoin is the repeated volume spikes couples with upward surges of price for Bitcoin. That indicates to us that a heavy buyer is stepping in and accumulating at various price levels. We looked at other studies that showed significant resistance at $4100 (a large number of coins available on the ASK, roughly $2MM worth). Once that level was breached on volume, we issued our BUY signal for Bitcoin.
Good luck trading!