1. How useful is TA for cryptocurrencies given the amount of manipulation in the market?
2. Do the Weekly (and to a lesser extent, Daily) closes have the same relevance or validity as in FX, given that the cc markets are 24/7?
It makes sense that Weekly FX closes have a lot of meaning given that many traders want to settle before the end of the week (and to a lesser extent, "end" of the day).
With cryptocurrencies, there are no real closes, so the timeframes are arbitrary. I wonder how much difference this makes when looking for closes above or below a level?
3. Related to 2 above, BTCUSD monthly did not close above the .618 Fib (although it was close), and weekly didn't close above resistance (likewise close). So it didn't meet your criteria, what next? Given that it broke through *after* the end of the week and has now made a strong push up. (I hope I am clear in tying this to 2/ above--how meaningful are those arbitrary close dates...?)
Many thanks for sharing your expertise and insights.