we can see the time cycles of BTC USD on this 1-hour chart.
we have a confirmed buy when all three main indicators are in the buy zone.
we have a confirmed sell when all three main indicators are in the sell zone.
BTC/USD compared to ETH/USD
if BTC/USD is a market leader in terms of volume & activity
then it is likely that ETH/USD could at some point do a nose dive up
I would be on the lookout for ETH/USD and any sign of unusual activity,
including a minor drop which could signal a rise incoming.
therefore I will put warning lights on a possible long trade...
we can see how the two markets are related simply by placing them on a single chart.
then we can try to determine what would be the most likely cause(s) for the evident correlation.
there is the common factor of the US dollar index both in terms of CHINA 50 given in terms of USD as well as in the base currency of BTC, the US Dollar.
indicator 1: ADX
never reaches the critical level
(blue horizontal line on indicator 1. window)
and so, this tells us that the up move
we see in the left side of the chart,
is a fake up move, or a pump first
in order to have the dump after.
plus indicators 2. and 3. have entered the sell zone
at the same time which is a clear indication
of strength and so...
at the moment...
UCS Pring indicator Is in the positive territory
but the volume indicator Is below the critical volume threshold
therefore the volume is too low for an interesting movement
and ADX indicator is unconvincing
because the selling force (red line) is a bit above the purchasing force (green line)
so, sellers are stronger than buyers.
illustration of volume spikes at the very bottom and at the very top.
based on ADX only, the values are quite weak...
I am waiting for a 1st spike which will be the feint and the 2nd spike which will be the real deal.
as I am reading about AI and how so many illustrious minds are speaking about the potential dangers related to AI
I then look up NVDA and its chart
and it is quite impressive
to say the least
stock-wise and price-wise...