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BTCUSD Targets Explanation Geared Towards Beginners
This is zoomed in to the 5 minute timeframe, you can see the massive move upward with volume to match. This is important because of the overall trend we're seeing, since the longer timeframes suggest an uptrend is starting again this move is significant in confirming that view.
When the volume goes up with the price this essentially means the people buying and selling right now are agreeing in large number that the price should go up and they are willing to pay for it.
Now zooming out to the 2hr chart we can see how these moves on the lower timeframes translate into similar patterns on the higher timeframes.
Below we can see where price has stayed previously to get an idea of where we should see price go before it stops going up or gets to its peak ideally.
This gives us the price targets below, 6650, 6750, 6900, 7000, 7200.
When the volume goes up with the price this essentially means the people buying and selling right now are agreeing in large number that the price should go up and they are willing to pay for it.
Now zooming out to the 2hr chart we can see how these moves on the lower timeframes translate into similar patterns on the higher timeframes.
Below we can see where price has stayed previously to get an idea of where we should see price go before it stops going up or gets to its peak ideally.
This gives us the price targets below, 6650, 6750, 6900, 7000, 7200.
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