vtc filling in its daily bull flag with a 22% gain opportunity for a long position. if triangle breaks and the candle closes outside the triangle, hold.
is it even possible to do TA using a BTC chart if BTC's value is changing so drastically all the time?
rockmancuso
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@MuMPiTz, yes. BTC volatility affects TA of course, but it would be a mistake to disregard TA because of BTC volatility. You'll lose out on a lot of great opportunities if you have a blanket attitude that TA doesn't work in BTC paired markets.
MuMPiTz
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@rockmancuso,
Thanks for the explanation, but for that reason, wouldn't it make more senes to use Dollar charts?
chilli_kebab
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@MuMPiTz, dollar charts would be irrelevant to me because my main goal is to gain more bitcoin. so if the btc pair TA isn't right I won't trade it. say vtc is at 40k satoshi and is like $4. if btc goes up and vtc is still 40k satoshis it will be like $6. However, to maintain that $4 when btc is going up vtc/btc value would have to go down to like say 35k satoshi
if you flip through many charts, you will find that more influence lies in the btc pair, not the dollar.