Bitcoin trades more like the S&P 500 = consolidation at prior POC and then a rally (so exiting below a red bar on after a higher POC is best)
CHILIZ on the other hand is at the moment in rally mode with alsmot no pullbacks. So waiting for breakouts of narrow consolidation areas is key.
Notice there was a relative high volume on 9th of march, so the following day it could not get through that area. Whereas bitcoin sold off enough giving you the opportunity to get in long on 10th of march.
But if there is no high volume due to a sell off there can be false entry signals in the morning, so keep that in mind.
CHILIZ on the other hand is at the moment in rally mode with alsmot no pullbacks. So waiting for breakouts of narrow consolidation areas is key.
Notice there was a relative high volume on 9th of march, so the following day it could not get through that area. Whereas bitcoin sold off enough giving you the opportunity to get in long on 10th of march.
But if there is no high volume due to a sell off there can be false entry signals in the morning, so keep that in mind.