Hi, friends.
Do you know why it is so difficult to trade bitcoin now?
Because we have a mini-balance inside the main balance.
Our main balance has a range 6000-9500. Our mini-balance has a range 7850-9000.
If the price breaks out level 9000 and holds above it would be a good sign for further BTC growth. But for mid-term up trend we still need to break out 9500.
If this mini-balance (7850-9000) goes down then a new down wave will begin and we will see fall to 6500.
You can trade only intraday with a short targets. For example, you can buy from the lower mini-balance level 7850 with the targets 8500 and 9000. Stop-loss must be placed below mini balance - 7630.
But the best way for now is to trade only when the main balance will be break out/down.
Glossary of terms
Do you know why it is so difficult to trade bitcoin now?
Because we have a mini-balance inside the main balance.
Our main balance has a range 6000-9500. Our mini-balance has a range 7850-9000.
If the price breaks out level 9000 and holds above it would be a good sign for further BTC growth. But for mid-term up trend we still need to break out 9500.
If this mini-balance (7850-9000) goes down then a new down wave will begin and we will see fall to 6500.
You can trade only intraday with a short targets. For example, you can buy from the lower mini-balance level 7850 with the targets 8500 and 9000. Stop-loss must be placed below mini balance - 7630.
But the best way for now is to trade only when the main balance will be break out/down.
Glossary of terms
- Point of Control (P O C) – The price level for the time period with the highest traded volume .
- Value Area (V A) – The range of price levels in which a specified percentage of all volume was traded during the time period. Typically, this percentage is set to 70% however it is up to the trader’s discretion.
- Balance - Accumulation Area.
- F L - flat level.
- T L - trend level.
- Fixing (fix, culmination) - reverse price reaction then the markets stops i'ts movement for a short time. The trend stops when it passes through 2-3 fixing movement.