BTCUSD Volume Analysis Prediction 4/12/2018
Hi, friends.
Bitcoin jumped today quite unexpectedly.
Yes, the balance was clearly visible, but the jump from the middle of the balance without any volume was a surprise for me.
At the same time, there was no important news background. But, as we know, news is a lagging factor, so we can learn more about that later. Perhaps this is due to the news that CFTC affirmed its ability to regulate cryptocurrencies as commodities. It's not clear yet.
At the moment we must be guided by the current market conditions, and they are:
At the top, a large volume is fixed, which is very similar to fixing.
Almost always after fixing, a new balance is formed. Now its range 7600-7800. At the moment, priority is bullish, so we should look for purchases. But, if the price goes down 7600, then you can sell it on a margin account with a short stop and take profit 7200.
The buying areas are highlighted on the graph - it's 7200 and 7600 (+-$20).
Glossary of terms
Bitcoin jumped today quite unexpectedly.
Yes, the balance was clearly visible, but the jump from the middle of the balance without any volume was a surprise for me.
At the same time, there was no important news background. But, as we know, news is a lagging factor, so we can learn more about that later. Perhaps this is due to the news that CFTC affirmed its ability to regulate cryptocurrencies as commodities. It's not clear yet.
At the moment we must be guided by the current market conditions, and they are:
At the top, a large volume is fixed, which is very similar to fixing.
Almost always after fixing, a new balance is formed. Now its range 7600-7800. At the moment, priority is bullish, so we should look for purchases. But, if the price goes down 7600, then you can sell it on a margin account with a short stop and take profit 7200.
The buying areas are highlighted on the graph - it's 7200 and 7600 (+-$20).
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.
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