An idea with a linear chart as a noise removal technique.
First, let's address the term "Noise", in a broad analytical context, noise refers to information or activity that confuses or misinterprets genuine underlying trends.
If we strictly speak in a technical context, noise is simply all the price data that distorts the picture of the underlying trend this includes mostly small corrections and intraday volatility.
This a linear chart where the price source used is the average of the four most relevant points for a given time frame.
Price source = (O+H+L+C)/4
The ellipses highlight the periods of lower volatility where the price dynamic narrowed its price range previous to a post-expansion.
In the larger ellipses, this kind of dynamic lasted around 7-9 weeks.
Note:
I find the potential of this chart for having a macro perspective.
Weekly scale ≤ recommended scale ≥ daily scale
Chart BLX weekly scale BraveNewCoin Liquid Index for Bitcoin
First, let's address the term "Noise", in a broad analytical context, noise refers to information or activity that confuses or misinterprets genuine underlying trends.
If we strictly speak in a technical context, noise is simply all the price data that distorts the picture of the underlying trend this includes mostly small corrections and intraday volatility.
This a linear chart where the price source used is the average of the four most relevant points for a given time frame.
Price source = (O+H+L+C)/4
The ellipses highlight the periods of lower volatility where the price dynamic narrowed its price range previous to a post-expansion.
In the larger ellipses, this kind of dynamic lasted around 7-9 weeks.
Note:
I find the potential of this chart for having a macro perspective.
Weekly scale ≤ recommended scale ≥ daily scale
Chart BLX weekly scale BraveNewCoin Liquid Index for Bitcoin
Comment:
The last week data point is located just at the weekly support, at the following chart, you can find the details.
Chart BLX weekly scale BraveNewCoin Liquid Index for Bitcoin.
Chart BLX weekly scale BraveNewCoin Liquid Index for Bitcoin.
Comment:
The long term upward channel
Chart BLX weekly scale BraveNecCoin Liquid Index for Bitcoin
Chart BLX weekly scale BraveNecCoin Liquid Index for Bitcoin
Comment:
It has been 83 days since the price made the high of 2019 ($13880).
The last 20 days the price action has occurred around the support level.
Linear chart #BLX weekly scale @bravenewcoin
The last 20 days the price action has occurred around the support level.
Linear chart #BLX weekly scale @bravenewcoin
Comment:
An intra-weekly view to have a perspective of the current dynamic, the weekly candle still has around 5 days in front to close.
Note: The prefix "intra" refers to a time frame that has not been closed yet. It gives us a snapshot within the development.
The price is flirting at the weekly support, this level has been the key support strictly speaking on a weekly view, the candle is yet young with 5 days in front to close, just to keep on mind the current dynamic.
Chart BLX weekly scale BraveNecCoin Liquid Index for Bitcoin
Note: The prefix "intra" refers to a time frame that has not been closed yet. It gives us a snapshot within the development.
The price is flirting at the weekly support, this level has been the key support strictly speaking on a weekly view, the candle is yet young with 5 days in front to close, just to keep on mind the current dynamic.
Chart BLX weekly scale BraveNecCoin Liquid Index for Bitcoin
Note: I use the prefix "intra" to refer a time frame that has not been closed yet. It gives us a snapshot within the development.
Remember that the price source on this chart is an average of four-point, at the moment of writing these lines the spot price is around $9420 and the point at the chart if the week would close now around $9885 (slightly below the weekly support).
If we observe in detail, the dynamic is suggesting a breakdown to confirm this the weekly candle must print its close then we can re-asses the dynamic, speaking strictly on a weekly scale.
Note:
I find the potential of this chart for having a macro perspective.
Weekly scale ≤ recommended scale ≥ daily scale
Chart BLX weekly scale BraveNewCoin Liquid Index for Bitcoin