BTC - volume signal that the trend is about to continue
In H4 timeframe, BTC formed a triangle pattern and some other topcoins like XRP.
This pattern shows the indecision between the buy and sell sides gradually coming to an end, as the trading volume decreases.
The dripping volume is a signal that the trend is about to continue.
This pattern would be a good position for both long and short side.
Along with decreasing volume, some other topcoins show a short-term trend of decreasing when the following highs and lows are lower than the previous.
Currently, there is no sign of a reversal from these coins yet.
Conclude
- With a triangle pattern, the rate of increase and decrease is 50-50
- Remember to set stoploss when entering orders
Tip: good position should be confirmed by closing a nice candle above resistance or support.
This pattern shows the indecision between the buy and sell sides gradually coming to an end, as the trading volume decreases.
The dripping volume is a signal that the trend is about to continue.
This pattern would be a good position for both long and short side.
Along with decreasing volume, some other topcoins show a short-term trend of decreasing when the following highs and lows are lower than the previous.
Currently, there is no sign of a reversal from these coins yet.
Conclude
- With a triangle pattern, the rate of increase and decrease is 50-50
- Remember to set stoploss when entering orders
Tip: good position should be confirmed by closing a nice candle above resistance or support.
Comment:
H1 timeframe
