BTC Weekly Timeframe analysis with PhinkTrade's Trend Band

18 בפבר׳ 2021

Trend band offers really good stop loss points on the weekly timeframe when the market begins to trend in a specific direction. Touches of the upper band when bullish or touches of the lower band when bearish act as support and resistance respectively. When price action breaks into the band, the prior trend can be considered broken and positions can be exited into profit. See chart annotations for more information. Note: Even pre 2017 bullish impulses follow this pattern.