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cosmic_indicators

Overlap of $BTC supports can pull price

Short
Bitcoin (INDEX:BTCUSD)  
cosmic_indicators  
INDEX:BTCUSD   Bitcoin
Technical Indicators cosmic-channel-lite cosmic-markers-lite cosmic-rays-lite
5
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indicator cosmic-channel-lite cosmic-markers-lite cosmic-rays-lite
When levels overlap across timeframes, in addition to acting as a strong price "wall", the point of overlap often also acts as a price magnet, attracting the price to test its strength. This is the situation shown in the chart, where both resistance and support overlap across the 6h and 15m timeframes. The short position stop and target are set accordingly.
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