[10/03] Beast Trading _ Today's Bitcoin Analysis
Bitcoin Analysis
Bitcoin is currently continuing to swing sideways at the volume profile
It is showing the form of convergence by moving up and down repeatedly, and is likely to break the box and bounce in one direction in a volatile event (such as a NASDAQ opening, speech, or presentation) sooner or later.
In a field where convergence/walking continues, long is a good trading method if you go up and short, and indicators such as RSI or Stoecast are helpful.
I'll let you know the response line.
First of all, it seems that they have built up a sales stand from 18.8k to 19.2k.
If the chart is located above the selling line, this section will act as a support, and if the chart is located below, it will act as a resistance.
Next, the downward trend line is coming down from 69k.
If you touch the line, there is a high probability of a big movement, so you must check this line. (If you support after breaking through the top, the possibility of maintaining the upward trend increases)
Red Line - Short Decline
It acts as a resistance. It's still on the decline.
For the black convergence line, check both the top and bottom lines.
(Top - Resistance, Bottom - Support)
If the convergence deviates, the possibility of hitting in the corresponding direction goes up
Bitcoin is currently continuing to swing sideways at the volume profile
It is showing the form of convergence by moving up and down repeatedly, and is likely to break the box and bounce in one direction in a volatile event (such as a NASDAQ opening, speech, or presentation) sooner or later.
In a field where convergence/walking continues, long is a good trading method if you go up and short, and indicators such as RSI or Stoecast are helpful.
I'll let you know the response line.
First of all, it seems that they have built up a sales stand from 18.8k to 19.2k.
If the chart is located above the selling line, this section will act as a support, and if the chart is located below, it will act as a resistance.
Next, the downward trend line is coming down from 69k.
If you touch the line, there is a high probability of a big movement, so you must check this line. (If you support after breaking through the top, the possibility of maintaining the upward trend increases)
Red Line - Short Decline
It acts as a resistance. It's still on the decline.
For the black convergence line, check both the top and bottom lines.
(Top - Resistance, Bottom - Support)
If the convergence deviates, the possibility of hitting in the corresponding direction goes up