These key levels were calculated based on the average closing price and RSI values of the past 6 candles in the 4 hour time frame.
I have noticed that when I drew a line of the prevaling 50%, the most recent candle with RSI valie closest to 50%, this line nearly confluenced with the Median 50% level. I am now assuming that this area of confluence could be significant to the current price behaviour and trend. The price just recently broke out from this area and could potentially retest this confluence area once again. If this happens, I would consider to make a BUY order.
In the meantime, I would create a SPOT GRID starting at the Median 50% level.
/please DYOR/trade at your own risk
I have noticed that when I drew a line of the prevaling 50%, the most recent candle with RSI valie closest to 50%, this line nearly confluenced with the Median 50% level. I am now assuming that this area of confluence could be significant to the current price behaviour and trend. The price just recently broke out from this area and could potentially retest this confluence area once again. If this happens, I would consider to make a BUY order.
In the meantime, I would create a SPOT GRID starting at the Median 50% level.
/please DYOR/trade at your own risk
Note
the price surpassed the 70% level which indicates that the price will form a new higher highNote
the current GRID will be disregarded and be closed. I would wait for the price to range until the BTC establishes a new 50% level
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.