Looks crowded but it's as condensed as possible.
The coloured lines are the resistance and support of major trends.
The blue dotted lines are previous important highs and lows.
Pretext:
if we manage to get up to ~5500$ and stay up early February that would be best (as in most resistance broken at once) "the pink bubble" - VERY CROWDED AND INTERESTING AREA - most lines converge here
close-up:
Breaking resistance and finding support in chronological order.
First to take out is the orange (falling) resistance (1 - res.) we are retesting this resistance at
the moment!
Find support at orange line
and/or ~4400$ high/low
-- if that fails, going down 3200 - 3000 - previous ATH or worse. (thin cyan line)
Second to take out/find support, thin yellow line ("bad stuff 1")
and/or ~4400$ high/low (which ever we encounter first)
Third the green ("bad stuff 2")
and/or ~4400$ high/low (which ever we encounter first)
Fourth major resistance from most of 2018, the yellow "2 - res."
and/or ~4900$ high/low
Fifth that whole ~5700 - 6000$ 2018 support is now resistance
Sixth and last: the red "major multiyear support" if we successfully get above that again ...
Chart will be updated for the whole of 2019 (maybe beyond?) on those major support/resistance lines only
The coloured lines are the resistance and support of major trends.
The blue dotted lines are previous important highs and lows.
Pretext:
if we manage to get up to ~5500$ and stay up early February that would be best (as in most resistance broken at once) "the pink bubble" - VERY CROWDED AND INTERESTING AREA - most lines converge here
close-up:
Breaking resistance and finding support in chronological order.
First to take out is the orange (falling) resistance (1 - res.) we are retesting this resistance at
the moment!
Find support at orange line
and/or ~4400$ high/low
-- if that fails, going down 3200 - 3000 - previous ATH or worse. (thin cyan line)
Second to take out/find support, thin yellow line ("bad stuff 1")
and/or ~4400$ high/low (which ever we encounter first)
Third the green ("bad stuff 2")
and/or ~4400$ high/low (which ever we encounter first)
Fourth major resistance from most of 2018, the yellow "2 - res."
and/or ~4900$ high/low
Fifth that whole ~5700 - 6000$ 2018 support is now resistance
Sixth and last: the red "major multiyear support" if we successfully get above that again ...
Chart will be updated for the whole of 2019 (maybe beyond?) on those major support/resistance lines only
Comment:
First resistance met "cyan Don't want to know" / "orange 1 -res"
let's see if it at least can hold support at current pricelevel "high low 36** "
let's see if it at least can hold support at current pricelevel "high low 36** "
Comment:
Hit it's head again on the same line "cyan Don't want to know"
if it can hold the price it has about 6 day's - then decide, break the line or drop the price
if it can hold the price it has about 6 day's - then decide, break the line or drop the price
Comment:
Already noticed it quietly slithering through "Cyan Don't want to know"
but made up it's mind with conviction now
now on to the heavy "orange (falling) resistance (1 - res.)"
but made up it's mind with conviction now
now on to the heavy "orange (falling) resistance (1 - res.)"
Comment:
oh forgot ..
nicely sitting again at the 36**$ mark - see jan.10 comment
nicely sitting again at the 36**$ mark - see jan.10 comment
Comment:
4 hour candles closed above "orange 1 -res" - that's good but i want to see a daily candle (just because)
Comment:
another hurdle taken
Daily candle broke resistance and found support at "orange 1 -res"
Daily candle broke resistance and found support at "orange 1 -res"
Comment:
and a while after that it plummeted down, again resistance
and now it's just hugging it?!
i want to see a nice push back up to at least 4200, taking out the yellow ("bad stuff 1")
see also
and now it's just hugging it?!
i want to see a nice push back up to at least 4200, taking out the yellow ("bad stuff 1")
see also
Comment:
we are nearing
thin yellow line ("bad stuff 1")
thin yellow line ("bad stuff 1")
Comment:
and of course it drops at first contact
waiting for retry
waiting for retry
Comment:
that's one way to get there ..
only yellow "2-res." needs to be broken now
hope it finds support at green "bad stuff 2"
the chart was for log-scale
as some traders use normal scale even on larger scale, you would/should use 2 charts with 2 separate set's of resistance and support lines ...
maybe next time i'll do that for educational purposes ..
only yellow "2-res." needs to be broken now
hope it finds support at green "bad stuff 2"
the chart was for log-scale
as some traders use normal scale even on larger scale, you would/should use 2 charts with 2 separate set's of resistance and support lines ...
maybe next time i'll do that for educational purposes ..
Comment:
I am out of lines :)
except for the "multiyear support" everything has been broken
except for the "multiyear support" everything has been broken
If BTC, now or later, finds lower support, i will update accordingly.