Check out the BNB BTC and LTC charts below for current market conditions using shorter time frame charts to identify other important patterns and indicators that can and should be considered in all trading strategies.
KEEP AN EYE ON THE MONTHLY CHART TOO
If you look at a MONTHLY chart for BTC you?ll see something worth noting:
1) The first green bar in 6 months (price ended higher than previous month)
2) The first test of the 2018 bear market trend line in 3 months since the devastating drop below key key key support at $6000 range.
Why is this a big deal? Well, this green bar may just be a dead cat bounce ? but as we share over and over on shorter time frame charts, the NEXT bar, in this case March can absolutely be a big deal, as we can either
A) Show ?Follow Through? ? 2 consecutive green bars on a monthly chart takes some decent buying and would certainly be bullish at least short term
B) Fall away from the Trend line (again) ? meaning buyers showed up, couldn?t get enough momentum and now more traders want to sell.
So March is important as an indicator of the strength of BTC and likely the entire crypto market ? so keep an eye on the monthly chart. as we get closer to mid and late March.
