I have received some feedback on my blog in the last few days. Apparently people are reading my blog but they have absolutely no idea what I am showing. I find that very disappointing. I have been writing this blog for two years and not one person has ever left a comment or any feedback. I only write this blog as a kind of trading diary. I thought someone out there might find these charts as interesting as I do. I think one of the main problems is people see something different and immediately put up a barrier. I go to great lengths to explain what I am looking at and yet I don't seem to be getting my point across. Charts are very simple to understand no matter what indicators are on them. All we are looking at is what I have said so many times on this blog but I will say it again. Above the line we do this, below the line we do that. It is not a crystal ball to predict the future. It is a very simple process of elimination.
This bitcoin chart is absolutely fascinating to me. If you click on the chart to enlarge it you can see the points of support and resistance. Have a good look at the chart. I don't know any other way to get such a clear idea of what is going on with the price. It is not hard to understand if you just take a minute to use your common sense.
Bitcoin 4hr chart
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