The bottom pane red line is 1 period ATR, the black line is a 200dma of 1atr. As we can see, intraday volatility/range is far above normal
The upper pane is the absolute value of close to next day open, again very high above average
Conclusions : 1. Intraday ranges giving huge opportunities 2. Overnight close to open gaps can kill if on opposite side
Hence, majority like us @Bijay_reborn have turned into majorly daytraders 😂
Had another look, this is freaky 😦
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COI has risen yesterday, suggesting a single day long buildup.
A series of lower highs and lower lows in place on BNF. Supports mainly coming in around 30900 levels ( why ? see the pic )
For any bullish/long views, BNF must close above the 32200-300 region. Until that, major trend is bearish
A close below 30900 with some more rise in COI can take BNF down to 29600 levels ( as the long COI will then be trapped). Intraday traders should watch 31300 breakdown as the first signs of trouble. Only a close > 32300 will break this bearish structure
To mentally take a break , as it was getting exhausting psychologically, went back to charts. Analysing BNF to explain what I saw on Friday which prompted me to carry shorts
COI started increasing over past two day, short buildup as price down+COI up. This is OIV Analyzer end of day
Now see the realtime charts. understand the context. The rise in COI over the day got trapped in the last 30 min selloff. The whole COI builtup has an average price of around 32k. Downsides may be in this manner :
below 32000--->31800
below 31800--->31400
below 31400--->30500