Hey, I am back with another Chart, but this time with something more educational.
Last time I was saying, that you should Ride with the wave, go with flow.
Many of you has asked my how can I predict this market, if we are currently bearish or bullish, how to follow trends..
Yeah, this Chart looks kinda complicated and messy but again, I think cycles arent that simple and tried to draw this to be clear and understable as possible.
First of all, what is a cycle?
Cycle in simple.
Cycle is a time period in where buyers/sellers are in dominance.
It ussualy last around one month.
On the chart, you can see 5 Cycles, 3 Bearish 2 Bullish.
6500 level as strong support.
There is a crossing Line that Indicates the start of each cycle.
Green line that Indicates the 6 th day in month.
Why is there a line that Indicates 6 th day in a month?
Notice how on the green there is long. somehow trend changing candle.
That may be the exact day of cycle start or end, change of trend.
Okay, next thing to look at - RSI.
Whenever Bitcoin is over 60 that is consider as bullish level, anything below 40 is ocnsider as bearish.
Simple and clear isnt it?
Look at Bitcoin each time we are in Bull cycle it always bounces of that 40 bearish level, and each time we are Bear cycle Bitcoin fails to break 60 bullish level
I hope I have make your mind about Cycles kind of clearer, if you have any questions, make sure to ask me bellow or at my Discord Channel.
If you like this Educational material let me know in the comments below or by just simple agreeing with me, Thanks !
Last time I was saying, that you should Ride with the wave, go with flow.
Many of you has asked my how can I predict this market, if we are currently bearish or bullish, how to follow trends..
Yeah, this Chart looks kinda complicated and messy but again, I think cycles arent that simple and tried to draw this to be clear and understable as possible.
First of all, what is a cycle?
Cycle in simple.
Cycle is a time period in where buyers/sellers are in dominance.
It ussualy last around one month.
On the chart, you can see 5 Cycles, 3 Bearish 2 Bullish.
6500 level as strong support.
There is a crossing Line that Indicates the start of each cycle.
Green line that Indicates the 6 th day in month.
Why is there a line that Indicates 6 th day in a month?
Notice how on the green there is long. somehow trend changing candle.
That may be the exact day of cycle start or end, change of trend.
Okay, next thing to look at - RSI.
Whenever Bitcoin is over 60 that is consider as bullish level, anything below 40 is ocnsider as bearish.
Simple and clear isnt it?
Look at Bitcoin each time we are in Bull cycle it always bounces of that 40 bearish level, and each time we are Bear cycle Bitcoin fails to break 60 bullish level
I hope I have make your mind about Cycles kind of clearer, if you have any questions, make sure to ask me bellow or at my Discord Channel.
If you like this Educational material let me know in the comments below or by just simple agreeing with me, Thanks !
Comment:
Thanks for all the support, I really do appreciate it!
