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RE: Daily Bitcoin/BTC Price Action Review (04 Mar 18)

in #bitcoin6 years ago

The middle indicator (blue line chart) is the On-Balance-Volume indicator and the bottom blue (mountain) chart (overlain the volume) is simply a moving average of the volume data.

I prefer using volume indicators rather than lagging price indicators, as they are independent of the price action. The lagging price indicators, as you hinted at in your post, are not really reliable, as the price behaviour characteristic of the crypto market are not really understood yet.

I also agree with you that taking a higher timeframe perspective is the only way to go: as crypto is even more sensitive to news than the forex markets, therefore a lot of noise in the price action.

Looking forward to more posts from you.

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I very much agree with you. I also rely mostly on volume. I’ve started using a VCPI indicator along with PRICE/OBV. Occasionally I will use a MFI/Heiken Ashi candles. But I’m all about volume, moving averages, support/resistance, and trends. The rest of it will get you burned in this market more than it will help you.

I also appreciate the nice comment. Thanks a lot. I’m trying to find my place on steem right now.