BitcoinPembelian
Trend is Friend. Until is isn't
All trends change. The prudent investor watches the market to spot such moments. In the chart we see some examples of why I believe Bitcoins most recent move is the beginning of a continuation bull trend.
1. THE VPVR ( Volume Profile Visible Range)
On the right side of the chart is the VPVR. The range is from September 2017 (first candle in bottom left) to January 2020 (the present). The tool also generates the red horizontal line on the chart, which shows the level where the most volume has been traded. The bulls continuing to push through this level signifies strength to me.
2. Pitchfork Downtrend Breakout to Upside
That subhead explains itself. The monthly chart shows nicely the support and resistance levels of the downtrend. Which we broke out of today. So nice to see, right?
3. Fibonacci Retracement Levels (FRL) Comparison
The FRL on the left measures the full bottom to top swing of the 2017 bull market. The FRL on the right measures the 3100 to 14000 range. Just look at the .618 level on both. We have managed to hold it as support on the right and break through significant resistance. The left we fell through and capitulated.
Monthly RSI Bounce
The RSI bounced off the 51-52 range. This is also the range that broke when BTC capitulated in 2018.
Is it just me or is this starting to look like a monthly low has been set? I'm long, on Bitcoin and in the pants.
Good luck All!
1. THE VPVR ( Volume Profile Visible Range)
On the right side of the chart is the VPVR. The range is from September 2017 (first candle in bottom left) to January 2020 (the present). The tool also generates the red horizontal line on the chart, which shows the level where the most volume has been traded. The bulls continuing to push through this level signifies strength to me.
2. Pitchfork Downtrend Breakout to Upside
That subhead explains itself. The monthly chart shows nicely the support and resistance levels of the downtrend. Which we broke out of today. So nice to see, right?
3. Fibonacci Retracement Levels (FRL) Comparison
The FRL on the left measures the full bottom to top swing of the 2017 bull market. The FRL on the right measures the 3100 to 14000 range. Just look at the .618 level on both. We have managed to hold it as support on the right and break through significant resistance. The left we fell through and capitulated.
Monthly RSI Bounce
The RSI bounced off the 51-52 range. This is also the range that broke when BTC capitulated in 2018.
Is it just me or is this starting to look like a monthly low has been set? I'm long, on Bitcoin and in the pants.
Good luck All!
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.