#BCH Volume Analysis Prediction 9/03/2018

#BCH Volume Analysis Prediction 9/03/2018

Bitcoin Cash / Dollar
BITFINEX:BCHUSD



Hi, friends.
The price is in the balance with the range 604-660.
As long as the price is in the balance, we trade only from it borders. Otherwise, the stop loss will be your friend.
If this balance goes up, with a high probability the price will breakout 700. First target – 710.8.
If this balance goes down the price will fall to the support levels 575. This level is very important – it’s key point.
The way the price will behave at this level, will show us whether the price will continue to rise or fall.
If the reaction is weak, without volume , the price will fall to 530.
If there will be a large volume or/and the initiative of buyers, in this case we can try to buy after a little pullback, but not to sell from the outside border of the balance.
Remember – trading is a game of probabilities.

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 1-3 fixing movement.

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