so instead of using so many lines, we can use <<Rectangle feature of trading view>> and create some zones instead of simple .
here take look at the Bitcoin example in previous weeks:
But let's take look at the 30K instead of the 30K support:
and let's take look at Forex and the same scenario:
here take look at the USDCAD example in the previous month:
But let's take look at the 1.2060 instead of the 1.2060 support:
<<👍hope you enjoy👍 >>
Personally, I wouldn't sell/short at this point. Risk-reward is way off, especially in the long term. So that could suggest the bottom is in because usually I'm more on the bearish side. I just think it's premature to call it because I've learned that the market usually trades higher/lower than I anticipate.
I have the same idea that these fake breakouts sometimes are needed to created fear or showing the false path and after that boom ...