BTC Levels Analysis
Well I managed to lose all the information from the actual chart due to some issue with layouts so this analysis is in the form of pictures!
Analysis of how levels are broken and retested. Note there is always some objectiveness with regard to wicks - in this example I have ignored a couple of the wicks at the start based on later price action which you obviously wouldn't necessarily know at the time so it needs some personal judgement. I have also not commented on all the local levels.
You can draw this on any timeframe and trade it. It shows also why we have multiple take profit levels - you cannot know a level will hold or break until it gets there, although indicators such as momentum and volume can give you an indication.
Hourly breakdown. Buy side.
15m breakdown. Sell side.
Analysis of how levels are broken and retested. Note there is always some objectiveness with regard to wicks - in this example I have ignored a couple of the wicks at the start based on later price action which you obviously wouldn't necessarily know at the time so it needs some personal judgement. I have also not commented on all the local levels.
You can draw this on any timeframe and trade it. It shows also why we have multiple take profit levels - you cannot know a level will hold or break until it gets there, although indicators such as momentum and volume can give you an indication.
Hourly breakdown. Buy side.
15m breakdown. Sell side.
Come say hi @elisa_crypto on twitter!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.