BTCUSD Volume Analysis Prediction 7/10/2018
Hi, friends.
BTC is in the wide balance with the range 5800-6840. Mid-term up trend will begin if this wide balance goes up.
Until this happens we must to trade inside the balance from it's borders.
For this moment we see a bear initiative: bear reaction from the max volume which is located near the high balance level. At this moment the price reached midpoint but there is no strong bull reaction. On intraday timeframes we have a down impulse phase without fixing. So falling will continue with a high probability. First strong support - 6130.
Glossary of terms
BTC is in the wide balance with the range 5800-6840. Mid-term up trend will begin if this wide balance goes up.
Until this happens we must to trade inside the balance from it's borders.
For this moment we see a bear initiative: bear reaction from the max volume which is located near the high balance level. At this moment the price reached midpoint but there is no strong bull reaction. On intraday timeframes we have a down impulse phase without fixing. So falling will continue with a high probability. First strong support - 6130.
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.
- Fixing (fix, culmination) - reverse price reaction then the markets stops i'ts movement for a short time. The trend stops when it passes through 2-3 fixing movement.
Trade closed: target reached:
