The volume spikes are pretty telling.. the volume spikes provide facts that if you understand how to interpret you are closer to golden... and in BTC it really does stand out.
takes practice and patience and you dont have to risk a dime figuring it out. But one must train ones eye....
to keep it simple, look at what happens when price breaks support or resistance.
If above resistance, was there a high volume return (supply/profit taking)
If below support, was there a high volume return (demand/buying)
The rsi here is only an adjunct, but can be useful to set alerts so you don't have to stare at the screen all day. But in general if the RSI is indicating oversold or overbought its not a bad idea to confirm it with your volume... just look for yourself, i didn't make it up!
This is not to be a stand alone game plan. There is more to it.
Bottom line... this is why you do not want to chase. If it breaks out long or short, you are too late 90+ % of the time)
Volume rules. Don't trade unless you understand it. No its not a perfect science but without it you are really putting yourself at a disadvantage.
i list sources of free education in my other posts. Learn volume. Start with Wyckoff supply/demand and VSA.... plenty of educators smarter than me out there for free ( i am still learning).
any suggestions/advice welcome as long as it has to do with volume/supply+demand.
GL
takes practice and patience and you dont have to risk a dime figuring it out. But one must train ones eye....
to keep it simple, look at what happens when price breaks support or resistance.
If above resistance, was there a high volume return (supply/profit taking)
If below support, was there a high volume return (demand/buying)
The rsi here is only an adjunct, but can be useful to set alerts so you don't have to stare at the screen all day. But in general if the RSI is indicating oversold or overbought its not a bad idea to confirm it with your volume... just look for yourself, i didn't make it up!
This is not to be a stand alone game plan. There is more to it.
Bottom line... this is why you do not want to chase. If it breaks out long or short, you are too late 90+ % of the time)
Volume rules. Don't trade unless you understand it. No its not a perfect science but without it you are really putting yourself at a disadvantage.
i list sources of free education in my other posts. Learn volume. Start with Wyckoff supply/demand and VSA.... plenty of educators smarter than me out there for free ( i am still learning).
any suggestions/advice welcome as long as it has to do with volume/supply+demand.
GL