TheChasm

Demonstration of the use of horizontal lines

BTCE:LTCUSD   Litecoin / Dollar
57 0 4
Using horizontal lines has many uses. Not only can it help us predict future tops and bottoms but it also can show us how interested people were at a certain price level. Look at the nice mirror image we have in price action. Hardly any time within 26.7 - 28.1 Some time within 24.8 -26.7 and quite a bit of interest between 22.9 and 24.8.

It is very common for one side of the chart to resemble the other, maybe not identically but with interest in price areas.
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