I’m going to sum this up from a book explanation into very little words.
As I’ve been carefully studying the ATR movements by using RENKO chart and when comparing it to a few of my most trusted indicators (in which indicators are never supposed to be used for selling and buying, just guidance), BITCOIN IS ABOUT TO PULL A BIG MOVE on a 23 hour timeframe. If in case there’s a minor dip, it’s a bear trap. Before the big moves come into action, they always get accompanied with a bearish dip.
This is RENKO; this means one candle can be equivalent to a few volume candlesticks.
Indicators are also dependent on how you use them and what timeframe, if used correctly, they can supersede by knowing the trending direction but my rule of thumb is they must agree with price action.
You must also put them into back testing to get results by how many winning trades does it have. Some indicators can misguide you.
I don’t pay any attention to PATTERNS, neither do I obey patterns, when I’ve used patterns, you’ll see they always get rejected because it’s smart money buying and selling enough to manipulate them. They create patterns for us to see so we can be baited. The hidden patterns are the most trusted but only if they agree with price action. Don’t get me wrong, some patterns are successful but that’s because price action has confirmed it.
Lay out a trendline and you’ll see there’s no end to sometimes getting it right.
FYI: smart money knows we use MOVING AVERAGES and like many say, they help predict the future, in a way it’s true but smart money can change the direction of that moving average or bullish or bearish.
NOTE: if I was a whale and planned to go into trading; I’d first get educated within the Physiological psychology of the human mindset in order to manipulate retail traders.