Bitcoin Forum

I would like to learn how to use volume as an indicator for fine tuning an entry.

I would like to see how other people read volume and what runs through their minds when using that for entry.

a) Do you use the volume figure from say coinmarketcap.com or do you use the volume spikes on the chart?

b) If you use the figure from coinmarketcap, how do you use that figure to determine entry?

c) If you use the spikes on the chart, how do you use that to determine entry?

d) If you use the spikes on the chart, which timeframe do you use it on?

e) Whatever the figure on the chart or the coinmarketcap website, how do you decipher the figure?

f) Or do you look at the rate of change in the volume by continuously refreshing the page?

I'd love to know how you experts use the volume for tuning your entry.

Appreciate the help,

JH

Someone mentioned entering a trade when price hits support and there are many trades happening at the same time and volume is spiking.

Any other view on this?

JH

There are different ways to look into,the basic thing would be to understand the market and the most comfortable would be to enter when there is a correction and i would rather calculate the support using the chart patterns or use the fibonacci levels to determine the best entry level and you will have a profit in the short to mid term,use these methods only in high volume good coins .
If you are into day trading just look at the amount of buy and sell walls and determine the movements and these might help in the short term profit too.

I don't used volume indicators on chart to determine when a coins pump but I do my analysis from http:/www.coinmarketcap.com. I do analyze volume from the figure display, if the volume figure is increasing and coin price is stagnant it means spike is about to happen! So I will wait to see the direction the market will take.

wow its an good topic i keep my eyes in this topic  because its help me learn how to trade with btc & other coins

Do you keep refreshing the page?

JH

It is right that entering the trade based on volume indicator gives you profit but you have to check the range of price moving it and according to it you have to trade it if you go above or lesser then you can be in loss or get stuck with that coin

Everytime is the best time to enter the BTC market as long as there are good news coming out or not as big unpredictable news as current SEC etf decision... You can also open a trade when it hits stable support or it surpasses the strong resistance point... but it all doesn't matter when you are thinking in a long run.... GL

Posted From bitcointalk.org Android App