mooncatcherpro

BTC/USD Volume Analysis Prediction 2/9/2018

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hi, friends. What to expect from bitcoin now? Let's find it out .
What do we have now?
After first fixing volume (point 1) the price shows bullish reaction. A correction wave after first fixing often indicates a possible new balance level .
After some time we saw a new large vertical volumes (point 2) and then the price came to the point where we are now.
In summary, BTCUSD is in the wide consolidation (balance) with the range 6000-9500 (balance 1, high probability) or 6000-8650 (balance 2, low probability).
A new mid-term (or even long-term) uptrend will begin if this balance breaks up.
Witin the balance we must work from its levels.
On the chart I selected 2 zones that we can use: resistance zone (9100-9500) and support zone (6000-6450). So, we need to be patient now and wait when the price will reach those zones.
You can trade only intraday and short targets only.

Glossary of terms
  • Point of Control (P O C) – The price level for the time period with the highest traded volume .
  • Value Area (V A) – The range of price levels in which a specified percentage of all volume was traded during the time period. Typically, this percentage is set to 70% however it is up to the trader’s discretion.
  • Balance - Accumulation Area.
  • F L - flat level.
  • T L - trend level.
Trade active: Our previous scenario is still in play. So, please,be patient and wait when the price will reach highlights zones.
You can trade intraday and short targets only.
With a high probability, BTC will show the falling move in the next few days
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