Simple chart today. This shows a bunch of levels that are highly relevant in the mid-term. Most of you should already have this info, probably because of other indicators pointing to these levels (fibs, swing highs/lows and so on...), so keep this in mind as a reinforcement to your theory if you have a similar one.
From what you can see the FBB lines...
Have a look at this chart. The lines are Fibonacci Bollinger Bands (free indicator in Tradingview). I'm using a customised version that is more suitable for long-term projections, and this is something that I have just discovered.
I don't want to explain the obvious, you can see everything on the chart. According to this theory, if BTC movements play...
To summarize the past two days and my previous posts:
- BTC broke above the 50D-SMA, bouncing from the yearly trendline from Jan 2015.
- It settled above a strong support zone (~3925-4000) and came in contact with the heaviest resistance it had for a long while (~4130-4270), consisting of several fib levels, the 200W-EMA and a longterm downtrendline.
This is a follow-up to my previous posts that explained the micro perspective of the current sequence. Both scenarios described there played out nicely.
My new chart has a more mid-termish view on current price action and support and resistance zones.
I've only included the mid-term relevant fib levels and trendlines to point out where significant...
This is the follow-up post to my previous one, in which I explained the whole squeeze and breakout scenario.
The zone we are now approaching can be seen as extreme resistance. Resistance factors are (descending in significance):
2. 0.5 - 0.618 Fib...
BTC is currently sitting directly on the yearly trendline that started with the capitulation candle in January 2015. Imo this represents significant support that should be taken into consideration when you think of entering shorts right now.
This is the same trendline from different angles.
Yearly view of the 2015...
the teal line shows the 50D SMA and the yellow lines are Fibonacci Bollinger Bands (the .618 to be precise). You get them by using the 1.854 standard deviation of the 200D VWMA (or SMA, that's why there are 2 different lines; both hold significant value).
BTC managed to gain the upper FBB as support after it had been failing to break through for weeks....
For those who don't know the lines in my chart:
These are the Fibonacci Bollinger Bands used in the 1439 minute chart, my favorite chart-indicator combination. The FBB are calculated by taking the third SD of the VWMA-200 (Volume Weighted Moving Average) and multiplying it by known Fibonacci levels (23,6%, 38,2%, 50%, 61,8% and 76,4%). This indicator is...
This is my first published post here and I appreciate any kind of feedback. I've been trading for half a year only, but am constantly learning since 2017. I have a pretty good understanding of indicators but certainly lack experience still.
Some info before I start with my analysis:
- I often use the BitMex charts because they are interesting and...