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BTC
I haven’t looked at the cryptocurrency charts in detail for a long time because they are in the decline phase and I have dealt with other values. When we look at the BTC charts, we can see a definite uncertainty, large price jumps not supported by a trend. This looks more like a short term trading of bigger players than a specific action. Looking at the volume does not show much to us either. The only and main positive factor in the BitCoin chart is that the established local low was not broken or even tested, which is a positive signal from the market. The chart below shows us what he writes about.
The number one is a low with a relatively large volume, where investors bought everything as it flew. It is a place of last resort to defend, but for us, level two is more important.
The place marked with number 2 is a local place, already tested and defended. It is also the place that sets the local trend (dashed upward trend line). The first negative signal will be breaking this level. The top broken line is a resistance that will open the way for further growth. After breaking the level, you can easily start buying small packets of BTC.
ETH
Now let’s check the ETH chart. On the Ethereum chart, we have a similar situation, but it is somewhat calmer. The volume itself shows calmer movements, in volume trades that are more stable, there are no such large jumps in price as in BTC. There are no such unit turnover as above. You can not see such panic when selling and euphoria when buying. The market reminds me more of the regulated one than the cryptocurrency one. At the resistance where we are, I drew a line that is enough for the price to break through and we have a positive signal as in BTC. It is good if the breakout took place on a high volume, it will be an additional aspect of trading.
