I have been experimenting with diagonal support/resistance analysis, and I find that I get a lot of confirmation in back testing and prediction, so I want to share my thoughts to see what others think of it. Also learning that confluence points of diagonal support and resistance lines tend to act as support/resistance. The pink lines are, according to this analysis, the key support and resistance levels; you can see the levels marked on the scale on the right.
The BTC chart looks bearish to me, but history shows that halving is quickly followed by a pump, so I'm just going to mark this idea neutral. Personally, I'm hoping for upward price action to start May 26/27, but I don't want anyone to take that as a prediction.
Do you agree or disagree with me? Do you have any feedback? Let me know in the comments. And please like this post if you found it helpful.
Disclaimer
No Investment Advice Provided
Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Post/Idea or in connection with it are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice. This Post/Idea should not be relied upon as a substitute for extensive independent market research before making your actual trading decisions. Opinions, market data, recommendations or any other content is subject to change at any time without notice. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
I do not recommend the use of technical analysis as a sole means of trading decisions. I do not recommend making hurried trading decisions. You should always understand that PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
The BTC chart looks bearish to me, but history shows that halving is quickly followed by a pump, so I'm just going to mark this idea neutral. Personally, I'm hoping for upward price action to start May 26/27, but I don't want anyone to take that as a prediction.
Do you agree or disagree with me? Do you have any feedback? Let me know in the comments. And please like this post if you found it helpful.
Disclaimer
No Investment Advice Provided
Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Post/Idea or in connection with it are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice. This Post/Idea should not be relied upon as a substitute for extensive independent market research before making your actual trading decisions. Opinions, market data, recommendations or any other content is subject to change at any time without notice. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
I do not recommend the use of technical analysis as a sole means of trading decisions. I do not recommend making hurried trading decisions. You should always understand that PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
