Hi, friends. Do you know why it is so difficult to trade bitcoin now? Because we have a mini-balance inside the main balance. Our main balance has a range 6000-9500. Our mini-balance has a range 7850-9000. If the price breaks out level 9000 and holds above it would be a good sign for further BTC growth. But for mid-term up trend we still need to break out 9500. If this mini-balance (7850-9000) goes down then a new down wave will begin and we will see fall to 6500. You can trade only intraday with a short targets. For example, you can buy from the lower mini-balance level 7850 with the targets 8500 and 9000. Stop-loss must be placed below mini balance - 7630. But the best way for now is to trade only when the main balance will be break out/down.
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.
Do you know where I can find a script that paints a longer term POC on a shorter term timeframe? i.e. showing the developing POC from the 4hr chart onto the 2 minute chart