October 22, 2020

TSLab company blog | Analysis of bitcoin price movement

Today we will take a closer look at the BTCUSDT price movement in the TSLab terminal.

Developing the topic I would like identify a number of elements that we pay attention to when analyzing the situation on paper.

In our example, the histograms showdistribution of the trading volume, but you can also watch the number of transactions by levels, delta or separately buy and sell. In subsequent posts, the histogram modes can be switched, which we will definitely inform you about.

TSLab company blog | Analysis of bitcoin price movement

A small note: any analysis, any forecasts easily cross out the news, so we do not forget to follow the news as well.

For example, the price fluctuation on the screen is higher in the channelfrom 11300 to 11500 would be quite natural. Not by sharp movements, but by a sluggish movement of the market in the sideways within these limits. This is due to the fact that a large volume was traded at this level, which means there will be an attempt to keep the price. Level 11350-11400 is well filled, therefore it is difficult to step over immediately. The level of 11450 with smaller volumes, and the price just shot to it, where it was stopped. This does not mean that we will not grow or we will fall - no. At the moment, one can only understand for sure that the price is still fluctuating here.

News came out today, OKEx Cryptocurrency Exchangesuspended the withdrawal of funds, and, accordingly, the price of news flies sharply. And the picture is as follows. The price has dropped sharply, but in zone 1 indicated on the screen (these are clusters with a timeframe of 1 hour), it is stopped and traded. That is, the cue ball was not allowed to immediately fall below. We returned to the level of 11350 and stopped the price again at point 2.

Naturally, depending on the applicantsnews, it can be assumed that at the current moment the price will fluctuate within the range from 11350 to 11200, followed by a movement to the level of 11050 (this is also the level of price penetration, but it is weaker than the others, since the price did not stay there long). This is not a forecast and not looking into the future, as the situation develops, the goals will be adjusted.

Real deals are not opened yet, as soon as there are deals, we will also designate them separately.

The entire analysis is based on distribution onlyvolumes, in the TSLab program. For now, let's say the initial level, then we will continue to reveal additional features that allow you to analyze price movements.
What do you use in your work when analyzing prices?

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