In this short-term 4 hours chart, we can observe that this crypto asset (CA) has created all lower lows in price actions (PA) in the last several hours since the recent top it made. RSI is still showing no positiveness in the chart.
But if we check properly there is a parrel channel break that has been done by this CA in PA. This means there is a probability of support in the short-term has found by the CA.
Now the question is how to convert this "just probability" to Confirmed trade.
Check below there is an indicator plotted named Money Flow Index ( MFI) which is nothing but volume considered RSI.
We can see MSI is oversold and I have created a box there.
Now If the MFI indicator breaks the box and stands upward positively and same followed by the PA then it is clear that the positive volume has started adding.
In that scenario, we start accumulation this CA from $93 onwards.
Once again this is a very short-term analysis on that CA.
So Trade accordingly...
But if we check properly there is a parrel channel break that has been done by this CA in PA. This means there is a probability of support in the short-term has found by the CA.
Now the question is how to convert this "just probability" to Confirmed trade.
Check below there is an indicator plotted named Money Flow Index ( MFI) which is nothing but volume considered RSI.
We can see MSI is oversold and I have created a box there.
Now If the MFI indicator breaks the box and stands upward positively and same followed by the PA then it is clear that the positive volume has started adding.
In that scenario, we start accumulation this CA from $93 onwards.
Once again this is a very short-term analysis on that CA.
So Trade accordingly...
