BarnBuilder

BarnBuilder

I'm a big fan of volume because I think it is the strongest indicator of a price movement's "commitment". Price and volume are raw data versus synthesized indicators capable of being manipulated to see what you want to see. I'd choose price and volume as my two indicators if I could only have 2. I struggled with the recent pull back of BTC. It wasn't supposed...

BarnBuilder

If you dont believe in Fib levels of support and resistance then take a look at the daily chart of BTC during this recovery. The first recovery impulse wave moved us to exactly the .382 fib resistance. Price corrected exactly to the .236 where it bounced for the 2nd wave to the .5 fib that is currently acting as resistance. Failure to push above this for the...

BarnBuilder

I've been following Mayfair_Ventures analysis of BTC price action. Highly Recommended. I find the monthly BTC chart easiest to analyze, and probably the most important for me at the moment. Are we moving toward an ATH or back towards 29K where further lows are very possible? This is a critical price point for BTC. I have a problem with the upper EW...

BarnBuilder

BTC is on the move. What's next? Facts: 1. BTC operated within a 30-40K channel for about 2 months It's still in that channel. 2. BTC experienced a significant price move from the bottom of the channel to the top of the channel. It was a strong, classic 5 wave impulse. 3. BTC experienced above average volume relative to recent dwindling volume, but it...

BarnBuilder

BTC continues to consolidate as everyone wonders what is the next move. One thing is for sure. BTC will not continue to move sideways with lower volume and lower volatility. After BTC retested its May low, I started to heavily trade a 30K to 40K band. I felt the downside risk was reasonably established at 30K. Talks of a V-bottom recovery and a double top...