CryptoScripts

The Volume Extractor & Whales Buy-Sell Indicator Called the Top!

Short
BINANCE:BTCUSD   Bitcoin / U.S. Dollar
Looking at the 1hr chart for BTC /Binance, we can see that our Whales Buy-Sell indicator and Volume Extractor indicator called the top perfectly with 3 red diamonds and a Sell signal! We can see that Bitcoin couldn't hold above our support at $56,440 and went to retest the Daily diagonal support of $56,100. Unfortunately it fell through that diagonal support down to our next support of $54,300. Not being able to hold that either, it fell to our current support of $52,386.

A few key takeaways from this breakdown:

1. We were right above a key support level (meaning if we broke down, it could break down violently)
2. Our MACD was losing momentum and went from a dark green bar to a light green bar (indicating sell pressure)
3. Our Volume Extractor indicator was flashing 3 red diamonds in a row which is a STRONG sell signal while our Price Extractor indicator was near the top of it's BBs but not quite crossing out of them (more overbought indications)
4. Our Whales Buy-Sell indicator flashed a sell signal after all of this to confirm the downtrend
5. All of this combined, caused the breakdown you see before you

Our next support level is $51,614 followed by a strong support of $50,000. Currently we're starting to get reversal indications on the 1h, seeing how our Price Extractor is flashing an oversold signal but it's still too early to tell. The $54,300 level has now become resistance and I'm looking for us to break above that if we're to continue our uptrend.

If you have any questions about the indicators I used or would like to purchase the Whales Buy-Sell indicator or Volume Extractor, please PM me :)

Comments

Hi. Can i Test this indicators for one day?
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter