Re: [Chart] Volume Profile Accumulation Zone $5,910 - $8,630 (VPVR)
The main topic here is not that price could be "6k to 8.5k" it just means the volume was mainly there which is why there is less volume above, if you reach above levels it will be easier to go up and down. That is why we were able to rush to 20k so easily, after breaking 10k, there are not many sellers, sure there are not many buyers as well but those buyers could come around when they see the price going up and hope that sellers do not show up when that happens. Just even last year we managed to get from 3k to 13k all thanks to less volume at higher levels.
If we could manage to break 11.5k one day, it will be once again easier to break towards 15k yet again since it requires less money since there are less sellers. You end up buying all sellers coins (most of them at least) after you reach to 9-10k anyway.
If we could manage to break 11.5k one day, it will be once again easier to break towards 15k yet again since it requires less money since there are less sellers. You end up buying all sellers coins (most of them at least) after you reach to 9-10k anyway.
Yup, basically that.
Suggested accumulation zone: $5,910 - $8,630. This is where the bulk of the volumes lies in the past 27 months.
There's so much bullish potential in the high time frame charts right now.
This too.
To share some analysis for today, which ideally would confirm either way by tomorrow's Daily close:
MACD Fakeout or Trend Change?
Quote from: TradingView
As the MACD shows on the Daily chart , we are currently facing a not-yet-confirmed bear-cross today, lasts seen December 17th 2019 at $6,612. Since the breakdown from $10K last September we have seen 4 bear crosses, twice causing the price to drop 20-25% (September 21st & November 9th 2019), the other two two times were not-so-obvious bear traps before price rallied 40% (October 24th at $7,435 and as previously referenced).
Needless to say, there is more upside with this becoming a MACD fakeout, than a trend change to bearish on the Daily chart . It's also worth noting that while the Daily is bear-crossing, the Weekly MACD is still close to bull-crossing, implying a lack of confluence.
Needless to say, there is more upside with this becoming a MACD fakeout, than a trend change to bearish on the Daily chart . It's also worth noting that while the Daily is bear-crossing, the Weekly MACD is still close to bull-crossing, implying a lack of confluence.
Weekly MACD close to a bull-cross (first time since February 2019, that would confirm a long-term trend change):
Monthly MACD bear-crossed (but is now trying to bull-cross again the following month creating potential as well for a "macd fakeout")
Weekly bulls vs Daily bears and exhausted Monthly bears. Still waiting for volatility given the indecision on different time-frames...
Also, don't trust the macd, clearly it can give out "fake" signals
Monthly MACD bear-crossed (but is now trying to bull-cross again the following month creating potential as well for a "macd fakeout")
Weekly bulls vs Daily bears and exhausted Monthly bears. Still waiting for volatility given the indecision on different time-frames...
Also, don't trust the macd, clearly it can give out "fake" signals
Again, I'm focusing more on education than TA at the moment (while remaining neutral & awaiting confirmation) so appreciate others filling in the gaps
