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Zoen_Trieste
Oct 12, 2023 12:46 PM

Notes on BTC Market Oct'23 

Bitcoin / US DollarBinance

Description

Over the past few months, CRYPTOCAP:BTC seems to find a pivot at 20% extensions of the up/down movement. To find sup/res points, what one can try is: take the last significant low/high and draw a rising/declining line at a rate of 12.5 USD per trading day from the chosen high/low.

The current example is highlighted on the chart; an info line is provided for easier reference.

The given dynamic support area is likely to have some maker bid volume, which usually translates into stop loss volume hurdles, effectively providing setups in both directions depending on which side overwhelms the market at these points of exchange.

Keep your eyes on the prize, manage your risk appetite and stay tuned

Comment

Updated version with the resistance angle line coming from the most recent pivot high.
Comments
SwallowPremium
We think it can work! Keep going!!
arvine11
please if possible a weekly gannbox idea. thx
Zoen_Trieste
@arvine11, I will post one in few days — thanks for the encouragement.
arvine11
@Zoen_Trieste, much appreciate sir
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