INTRO
G'day.
I decided that I'd add a feature for you to look at (no, not the chart, but the information), and hopefully it will help you make a decision one way or the other which way to trade on the bitcoin chart.
What I'm doing is providing a snapshot at a said instant of time. Due to time differences, I won't be posting a time, even though I'm aware that this price may be hit often in a day.
I am using the BitMEX USD Perpetual Inverse Swap Contract as the basis for my chart. This is one of the methods I use to decide which way I will trade. I hope you find it useful, and I will post one hopefully at least once per week unless travelling and so forth. I am only providing the information up to the half hour mark, from the monthly down.
If you like it, please do subscribe, and comment below if you like too.
25 January 2020 Chart Analysis (8317.5)
Monthly - Candle is making a doji, so I'm expecting a rise soon. But that said, volume is increasing bearishly. Stoch is descending at 44.41/52.06. Looks bearish, but the doji is signalling a turnaround soon.
2wkly - Green candles indicate a rise. Volume candles are also starting off on a long foot. Stoch is ascending at 18.01/9.17, so it is in an upwards momentum overall. Bullish.
1wkly - Green candles still, with volume possibly increasing. Stoch is ascending, at 73.07/49.33. Bullish.
3day - Red candles descending, and volume candles are red. Stoch has hit the top and is turned down, at 83.91/92.42. Bearish.
1day - Red candles, also descending. Volume is decreasing, but still going down. Stoch is descending, and at 0.00/9.92. Bearish, but not for long.
18hr - Red candles, although it has been a bit flippant. The volume candle is also red, but the Stoch is increasing, at 8.03/6.02. Bullish.
12hr - Red candle, although it has hit a green doji in the last period, so I don't believe it will keep on descending here, but I could be wrong. The volume candle is quite small though too, so it may indeed be a turnaround coming. The Stoch is on the bottom, at 4.41/2.8, and is ascending ever so difficultly. Bullish I believe.
8hr - Candles are red, and we've had two since a green one. Volume is red, and looks like it won't be as high as the last one. Still, too early to tell, but the Stoch is turning around to a drop, at 16.86/17.77, where it was rising formerly. Bearish.
6hr - Red candles, although volume candles are reducing. This may be the last red candle, but not sure. Stoch is descending at 28.77/31.92, but it turned around about 5 candles ago. So I think it will go up. Bullish.
4hr - Red candle, although it has a shadow both sides of it. Volume candles are very low in volume, and red still. Stoch is descending, at 44.25/58.35. It may dip a fraction, but I'm thinking bullish.
3hr - Red candles, although it is a hanging man. Volume is extremely low, with the Stoch at 56.01/59.79, and just turning around to ascend again by the look of it. Bullish.
2hr - Green doji. Volume candles show an upward momentum, but are very low in volume and descending, and the Stoch is at 45.66/41, and has just started an ascension. Bearish to me.
1hr - Red candles. Very low volume though. Stoch is ascending at 32.67/31.35 and about to change directions by the look of it. I'd go long if I only looked at this chart.
45min - Red candles. Low volume still, and Stoch has turned around, where it is descending now and at 67.91/74.22. Still bearish here, but I don't think there's much in it.
30min - Red candles, with low volume. Stoch is descending and at 50.96/61.42. Looks still bearish, but there doesn't appear to be much movement with the price.
G'day.
I decided that I'd add a feature for you to look at (no, not the chart, but the information), and hopefully it will help you make a decision one way or the other which way to trade on the bitcoin chart.
What I'm doing is providing a snapshot at a said instant of time. Due to time differences, I won't be posting a time, even though I'm aware that this price may be hit often in a day.
I am using the BitMEX USD Perpetual Inverse Swap Contract as the basis for my chart. This is one of the methods I use to decide which way I will trade. I hope you find it useful, and I will post one hopefully at least once per week unless travelling and so forth. I am only providing the information up to the half hour mark, from the monthly down.
If you like it, please do subscribe, and comment below if you like too.
25 January 2020 Chart Analysis (8317.5)
Monthly - Candle is making a doji, so I'm expecting a rise soon. But that said, volume is increasing bearishly. Stoch is descending at 44.41/52.06. Looks bearish, but the doji is signalling a turnaround soon.
2wkly - Green candles indicate a rise. Volume candles are also starting off on a long foot. Stoch is ascending at 18.01/9.17, so it is in an upwards momentum overall. Bullish.
1wkly - Green candles still, with volume possibly increasing. Stoch is ascending, at 73.07/49.33. Bullish.
3day - Red candles descending, and volume candles are red. Stoch has hit the top and is turned down, at 83.91/92.42. Bearish.
1day - Red candles, also descending. Volume is decreasing, but still going down. Stoch is descending, and at 0.00/9.92. Bearish, but not for long.
18hr - Red candles, although it has been a bit flippant. The volume candle is also red, but the Stoch is increasing, at 8.03/6.02. Bullish.
12hr - Red candle, although it has hit a green doji in the last period, so I don't believe it will keep on descending here, but I could be wrong. The volume candle is quite small though too, so it may indeed be a turnaround coming. The Stoch is on the bottom, at 4.41/2.8, and is ascending ever so difficultly. Bullish I believe.
8hr - Candles are red, and we've had two since a green one. Volume is red, and looks like it won't be as high as the last one. Still, too early to tell, but the Stoch is turning around to a drop, at 16.86/17.77, where it was rising formerly. Bearish.
6hr - Red candles, although volume candles are reducing. This may be the last red candle, but not sure. Stoch is descending at 28.77/31.92, but it turned around about 5 candles ago. So I think it will go up. Bullish.
4hr - Red candle, although it has a shadow both sides of it. Volume candles are very low in volume, and red still. Stoch is descending, at 44.25/58.35. It may dip a fraction, but I'm thinking bullish.
3hr - Red candles, although it is a hanging man. Volume is extremely low, with the Stoch at 56.01/59.79, and just turning around to ascend again by the look of it. Bullish.
2hr - Green doji. Volume candles show an upward momentum, but are very low in volume and descending, and the Stoch is at 45.66/41, and has just started an ascension. Bearish to me.
1hr - Red candles. Very low volume though. Stoch is ascending at 32.67/31.35 and about to change directions by the look of it. I'd go long if I only looked at this chart.
45min - Red candles. Low volume still, and Stoch has turned around, where it is descending now and at 67.91/74.22. Still bearish here, but I don't think there's much in it.
30min - Red candles, with low volume. Stoch is descending and at 50.96/61.42. Looks still bearish, but there doesn't appear to be much movement with the price.
Order cancelled:
Sorry folks, but I decided not to continue sharing these charts with you like this. There doesn't seem to be a point to it, and it takes up a lot of my time. Still, the information provided shows one form of journalling your analysis, and whether it is a good trade or a bad one. There are many factors to consider, and this was just one of many ways to consider before placing a trade.