FinanceFox

BTC/USD every bit of data in one chart!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hello everyone!

I haven't done one of these charts for crypto in a long time but its time to do one again.
Now this chart is a trend following chart, so with that logic this will be the focus:

- Identifying trends
- Why a trend is a trend
- When a trend forms
- how a trend forms
- as much data as possible
- trend progression
- killing noise

The chart has been set out to show the support and resistances, trend lines of former trends, volume progression and trend relation.
the interesting part of the chart is that there have been clear trends, and signs of trends reversing or forming. The yellow circles indicating the price dropping below the support of the 30 MA which has been a support/resistance during trends since the beginning of BTC             . The volume indicates that trends usually get started when volume progresses and spikes, volume is a story with the relative vs the absolute in terms of liquidity but for this chart we will mostly ignore that factor. the MA 50 is useful for death crosses and golden crosses on the chart to confirm new trends. Momentum of the RSI agrees with the price cross overs on the 30 MA which strengthens its trend identifying capabilities. last indication we had was a RSI divergence during the rise of up trend 2, something to watch for in the future.

A reminder of trends, trying to catch one before it has properly formed has the risk of getting whipsawed, that is a common risk of trading trends.

as always,
Happy Hunting!

All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock/cryptocurrency picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. These are not facts but my personal views and opinions.
I will not and cannot be held liable for any actions you take as a result of anything you read here.
Comment:
~~~~~ beautiful!~~~~~~~ Downtrend is just beginning from this perspective
Reply
FinanceFox AntiqueSoul
@AntiqueSoul, A reminder of trends, trying to catch one before it has properly formed has the risk of getting whipsawed, that is a common risk of trading trends
Reply
When bae uses log charts
Reply
Damn nice spot on the volume <3
Reply
FinanceFox XanderCrypto
@XanderCrypto, how did I do that lmao
+1 Reply
Great TA, but what is show your path to 3K...?
Reply
FinanceFox rsatzerro
@rsatzerro, not necessarily, rather defining trends instead of bottoms or tops.
Reply
well done, thank you for sharing
Reply
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