ThousandX_Trader

ThousandX_Trader

This is a very simplistic analysis, but time and time again we see these long-term logarithmic trend channels hold up over time. I suspect price will find a footing in the lower zones until breaking the higher side of the channel later in the bull run. This is not a trading idea, but rather a bigger picture view which is useful to keep in mind. I will be looking...

ThousandX_Trader

Much technical analysis is overly complicated. In the past, much of my most profitable discretionary trading, and now much of my automated trading, relies on the signal from On Balance Volume. I have set an alert on the weekly OBV line on Coinbase precisely because it has provided a long-term buy signal with a strong R:R.

ThousandX_Trader Updated 

Typically when a clear 5-wave move is made in a new direction this is a good indicator that a bottom is in and the trend has shifted to a new direction. Look for resumption of the new trend after an A-B-C correction on just completed on the LTF.

ThousandX_Trader

These long term trend lines have been remarkably well respected, with the exception of the Covid Crash.

ThousandX_Trader

4.44 - 4.80 level looks like a good target for late April.