Will BTC cross $8500, be careful and turn log on and off
Quite a few people are saying BTC is now out of down trend, however if we turn on log view in the bottom left, it still has not crossed the big resistance.
A lot of big traders use the log view, therefore if we cross around the $8500 range, I would then like to think we are out of the down trend and prices could rise quite quickly.
Any one that knows me, knows I do not really believe that a chart data can determine if the price, there are too many variables.
However i do believe if enough people or bots detect a pattern, support or resistance then there is a very strong chance they will react to it and therefore the price changes.
Remember now there are more and more bots trading every day. They have to use a pattern or a support and resistance to know when to buy or sell.
The hard part, is working out what signal the majority will act upon. We are working on a strategy that takes many signals into account, and hope it will gets great results.
If you would like to be kept upto date please follow us and try our indicators and strategies here: https://uk.tradingview.com/u/CryptoPeep/#published-scripts
If you agree with the above please like.
A lot of big traders use the log view, therefore if we cross around the $8500 range, I would then like to think we are out of the down trend and prices could rise quite quickly.
Any one that knows me, knows I do not really believe that a chart data can determine if the price, there are too many variables.
However i do believe if enough people or bots detect a pattern, support or resistance then there is a very strong chance they will react to it and therefore the price changes.
Remember now there are more and more bots trading every day. They have to use a pattern or a support and resistance to know when to buy or sell.
The hard part, is working out what signal the majority will act upon. We are working on a strategy that takes many signals into account, and hope it will gets great results.
If you would like to be kept upto date please follow us and try our indicators and strategies here: https://uk.tradingview.com/u/CryptoPeep/#published-scripts
If you agree with the above please like.
Comment:
Sorry, log view is bottom right of the chart.