Hello TradingView Community, This is my first post & i try to keep it simple
Observing the trend by now, one must understand that, right now NO- "INDICATOR, PATTERN, MULTIPLE TIMEFRAME ENTRY & EXIT " WORKS. The Only thing to watch is Price action. This kind of price action indicates when both buyers & sellers agree at one price & refuse to move forward.
So, when should one enter the market, when price breaks above the indicated rectangle area & continue to retest that upper resistance. if the price falls back into the rectangular area once again, it has to retest resistance with increasing volume. I have mentioned 'continue to retest' as we don't want to enter the market during a fakeout. This kind of 'retesting market action' can only be observed using shorter time frames (Preferably 3min)
The Oval shaped area occupies no significance because of the 'tether issue' & it can only be regarded as the next fight that bulls need to win
So in summary, only Price action pays right now...Be immune to noise like '2014 BTC comparison charts, Bullish till Eternity etc.'
will update idea once the price structure develops
Observing the trend by now, one must understand that, right now NO- "INDICATOR, PATTERN, MULTIPLE TIMEFRAME ENTRY & EXIT " WORKS. The Only thing to watch is Price action. This kind of price action indicates when both buyers & sellers agree at one price & refuse to move forward.
So, when should one enter the market, when price breaks above the indicated rectangle area & continue to retest that upper resistance. if the price falls back into the rectangular area once again, it has to retest resistance with increasing volume. I have mentioned 'continue to retest' as we don't want to enter the market during a fakeout. This kind of 'retesting market action' can only be observed using shorter time frames (Preferably 3min)
The Oval shaped area occupies no significance because of the 'tether issue' & it can only be regarded as the next fight that bulls need to win
So in summary, only Price action pays right now...Be immune to noise like '2014 BTC comparison charts, Bullish till Eternity etc.'
will update idea once the price structure develops
- Constructive criticism is encouraged since this is my first chart... am open to any new ideas that differ from my analysis