As an analyst, we need a correct price to perform an accurate analysis, and we know that cryptocurrency have many exchanger with different price too. of course different price perform different chart, and it have very big impact to our analysis accurate level. In this post I try to compare Coinbase and Bitfinex chart.
In all my bitcoin analysis, I use coinbase chart, and in this post I try to explain why.
Classic support and resistance (point 1,2,3 (red))
Resistance at point 1 and 2 become strong support at point 3. That will happen if we use coinbase chart.
But if I use Bitfinex chart, Support at point 3 cannot reach it.
Fibonacci retracement (blue)
At coinbase chart, Point 3 hit fibonacci 618 support, but if I use Bitfinex, it didn't
Second support (black)
At coinbase chart we have strong second support line, But if I use Bitfinex chart, That support already break down with 1 full candle.
That's why I always use coinbase for all my bitcoin analysis (doesn't mean that u have to use it too).
And in my opinion, if you need more accurate analysis, you have to search your own exchange chart that more suitable with your analysis technique and your trading indicator.
In all my bitcoin analysis, I use coinbase chart, and in this post I try to explain why.
Classic support and resistance (point 1,2,3 (red))
Resistance at point 1 and 2 become strong support at point 3. That will happen if we use coinbase chart.
But if I use Bitfinex chart, Support at point 3 cannot reach it.
Fibonacci retracement (blue)
At coinbase chart, Point 3 hit fibonacci 618 support, but if I use Bitfinex, it didn't
Second support (black)
At coinbase chart we have strong second support line, But if I use Bitfinex chart, That support already break down with 1 full candle.
That's why I always use coinbase for all my bitcoin analysis (doesn't mean that u have to use it too).
And in my opinion, if you need more accurate analysis, you have to search your own exchange chart that more suitable with your analysis technique and your trading indicator.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.