(For the purpose of study on technical analysis only)
Our interest is to make profit from our investment activities. If you can trade both way, short and long, you would short the price if you feel that prices will go down and long if you see that the probability is high for prices going up.
For that matter, price movement will be the most important factor in your investment decisions. Prices move in trend.
Simply put, an uptrend is when prices making a new higher high and a new higher low pattern. And a downtrend is when prices making a new lower low and new lower high.
Looking at price of bitcoin, it when down from 19187 to 13170 and now moving back up again. But, at current price, bitcoin need to go higher to break the downtrend gann fan line. If failed then a reaction would happen and prices might go back down to the lower line.
Ichimoku plotted on the chart shows that prices still above the cloud, suggesting that bitcoin uptrend still intact.
Entry and exit.... I ll explain it in my class.
Thank you.
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