![](https://steemitimages.com/DQmeDBAVg3Gd1UBtDZo639asQbpkHfk6BxXJ6AcL6sfGKef/image.png)

Most crypto coins are currently down. Ones that are up are ones that I never thought to invest in and now second guessing myself. XRP, SALT, Bitconnect, and there are new ones that made it to the top 100 in market cap amidst all the carnage, Vechain, Enigma, and KuCoin shares. 

Crypto is beginning to trade more like financial stocks this past month than the usual continuous ramp up. Since I am vested in bitcoin I would like to reflect on its price as an example of what I mean. Last week massive draw down in crypto has the whole crypto investing destabilized.  The daily price chart of bitcoin:

![](https://steemitimages.com/DQmekJJWncMqxequWMVgsCetmvKfw3CZDoPLHaZSEQTapFz/image.png) 

I panicked and sold out of my bitcoin when it was going down and bought back in when the bleeding sort of stopped last Friday. The massive daily candle on Friday was my hope that bitcoin price drops would stall. I was wrong because on the 4hr chart bitcoin never held support.

Take a closer look at 4hr chart:

![](https://steemitimages.com/DQmYYCp4ymY4k1VgUjLXyWS1ok8vp9s8Pfkh5ZYsqa2PGKS/image.png)

I sold out my bitcoin with small gains yesterday once I notice it could not hold 15,000. The four hour chart showed it held on Dec. 22 but now it did not. That is not a good sign. Additionally price is now on a bigger support line of 13500 as it has been in this range from Dec. 22 to 25.

Hourly chart:

![](https://steemitimages.com/DQmW1fqmqE9waiygbvzj84jBmXDmHBv8ChQsB28MABFJqAk/image.png)

The last 8 hours is showing me that there is no entry point to bitcoin. I am not going to try and catch a falling knife. The last 8 hours we have seen lower highs and lower lows. No sign of bottoming but we are at support.

And finally on the 5 min chart:

![](https://steemitimages.com/DQmbxJGL1A3gyAp87n2FZNvGj3b6cSkwCYWYZ6uZRZ4Qsd1/image.png)

I am liking this because bitcoin may have found a bottom at 13300. Support has started to be established for the past hour at 13500 and holding. If it penetrates 13700 and holds I think we will likely have a recovery in price.

The past few days have been exhausting since I focused so much into looking at the price of bitcoin. A habit I intend to break soon, because it is earning me little value. What I did how is what is call reading stock on a multiple time frame. Very simple concept when trying to gauge when to enter and when to exit. I always look at multiple charts of a coin at different time frames before I enter and exit a trade. This is about gauging the market as much as understanding what has happened in the past and getting a better understanding what may lie ahead. Price has memory such as those people who invest in the crypto. You would always remember where you sell and buy levels are so when multiple people have the same levels it shows up in the charts. The multiple time frames will show these.

One more aspect to remember is 1 hour support or resistance level will always be stronger than 5 mins and 4 hours stronger than 1 hour. The longer the price holds at that specific level the more likely it will be a support again. This is the concept of studying prices at multiple time frames. 

Speaking of which bitcoin prices are ramping and now sit on $13,800 and continuing to rise. If the volume in trading on the 5 min is steady and or increasing while prices increases I tend to lean towards buying. If the volume is decreasing as prices increase I tend to wait.

A finally note is this in my humble opinion is a method of timing the market. This is the worse one can do during turbulent times. The up and downs will cut investors into little pieces of not careful. I have been through this and in the financial markets and fear it will happen to me again in crypto world. That is why I will also bring up something call risk versus reward ratio. In my head before I do a trade I tell myself what the risks are prior to buying. If the reward is below what I am risking I tend to hold off. In this example if $13,700 will hold the next resistance is at $14,250. However if $13,700 fails the next viable support looks to be $12,000 on the 4 hour chart. Gain $550 versus losing $1,700 is the ratio if I bought in at $13,700. 

Full Disclaimer: This is just my thought process regarding to reading prices. I am not a financial advisor and do not use this as advise and as always do not trade more that what you can afford to lose. Be safe.