We were lucky today to see a typical Up Thrust at Bitcoin (1st arrow on the screenshot).
This is one of the best figures in volume analysis, which gives with a short stop much larger profit. At first glance, it looks like the uptrend, when the resistance at 9265 is broken down on volumes. But this is a wrapper from candy. Smart money is much trickier, they win several prizes with this movement. First, they activated the buyers, who put limit buy orders. Secondly, they sold Bitcoin to the market with limit stop-loss. Thirdly, they enticed the weak player into purchases, whose stops lower will activate sales. But that’s not quite the case. In this situation output and fix under 9200 (2 on the screen) will serve as the confirmation of the Upthrust. Because a large buyer can come to the market at any moment and push the price up. And the market is always right, as we know. Therefore, never forget about risk management.
This is one of the best figures in volume analysis, which gives with a short stop much larger profit. At first glance, it looks like the uptrend, when the resistance at 9265 is broken down on volumes. But this is a wrapper from candy. Smart money is much trickier, they win several prizes with this movement. First, they activated the buyers, who put limit buy orders. Secondly, they sold Bitcoin to the market with limit stop-loss. Thirdly, they enticed the weak player into purchases, whose stops lower will activate sales. But that’s not quite the case. In this situation output and fix under 9200 (2 on the screen) will serve as the confirmation of the Upthrust. Because a large buyer can come to the market at any moment and push the price up. And the market is always right, as we know. Therefore, never forget about risk management.