THE WEEKLY LOW, MID AND HIGH ARE THE REAL INDICATORS IN THE CRYPTO MARKET AND HERE'S WHY!
If you haven't analyzed the crypto market using its weekly low, mid and high. Then, we highly recommend for you to check these factors that will help you with your trades!
Every weekly low, mid and high tells us different scenarios in the crypto market. One scenario exists for a market structure that's in its markup phase where most of the weekly candlesticks will close on top of the previous bullish candlestick. This indicates a rally that's happening from higher lows to higher highs and vice versa with a market structure that's in its decline phase. As for the weekly closing for the candlesticks that are at the very depths or at the lowest possible price in a year of a token. They're most likely staying on the same spot with only a few times of a different movement from usual. This indicates an accumulation phase for that token and vice versa for those staying at the peak where distribution phase occurs. Now, for the weekly candlesticks that are undecided we call them like this since this is where most buyers and sellers will meet more frequently before a breakout/breakdown occurs. Keep in mind that most of the times in a ranging market, weekly candlesticks may have a complete retracement, semi retracement or above the previous weekly candlestick. Since many are still awaiting for confirmation on how the market will play out. It would be best to trade within 3-5 weekly candlesticks in their ranging market for day traders. As for the swing traders, they usually wait for a long time and once a confirmation occurs. They will enter a trade for every swing movement of the market and thus, various weekly candlesticks may form a swinging structure. There are still more of these formations for weekly candlesticks but we recommend for you to continue to have more observations and less reactions to ensure you can take trades that are worthy.
Stay wise, trade cautiously.
