This chart looks like chaos but it is useful in determining points of resistance and support.
Each diagonal line is super precise. Meaning, each diagonal line is drawn to connect either two highs or two lows to the exact satoshi. Each line is extended to negative and positive infinity which is helpful since broken support becomes resistance in the future (and vice versa).
This market is not bullish at the moment. Do not be deceived. Market makers are shorting the price down to the demand zone where prices are more favorable.
Notice how the price is getting rejected for a 4th time at the purple diagonal resistance.
I won't predict how low the price will go. However, the price will reverse to the upside from a horizontal or diagonal support.
The team failed to release the VISA cards so I'm not surprised to see market makers dump their tokens on the open market.
The price is most likely to reverse to the upside from anywhere between 75,000 - 29,999 sats.
Lastly, always trade in the direction of the market whether up or down. Don't trade against the current. Just go with the flow.
Each diagonal line is super precise. Meaning, each diagonal line is drawn to connect either two highs or two lows to the exact satoshi. Each line is extended to negative and positive infinity which is helpful since broken support becomes resistance in the future (and vice versa).
This market is not bullish at the moment. Do not be deceived. Market makers are shorting the price down to the demand zone where prices are more favorable.
Notice how the price is getting rejected for a 4th time at the purple diagonal resistance.
I won't predict how low the price will go. However, the price will reverse to the upside from a horizontal or diagonal support.
The team failed to release the VISA cards so I'm not surprised to see market makers dump their tokens on the open market.
The price is most likely to reverse to the upside from anywhere between 75,000 - 29,999 sats.
Lastly, always trade in the direction of the market whether up or down. Don't trade against the current. Just go with the flow.
Comment:
The market is super bullish once we hit the demand zone.
Comment:
After careful analysis, I think the price will reverse to the upside prior to 75,000 sats since the apex of the falling wedge comes before that point.