The correct resistance and support
oday let's talk about: support and resistance
Look back on this year’s BTC trend,
There are three relatively large growth.
3/12-6/1 3800-10500
7/13-8/17 8800-12500
8/31-11/16 9800-18500
How many people have entered the market in these ranges,
After my observation,
I found that most people didn’t enter the market or got off early,
Because that BTC has reached the resistance level and start shorting.
What I want to ask is,
Did the market reverse?
How can we know whether a market trend has reversed or not?
How to wait patiently for the trend to form before entering the market?
When most people in the market consider the price as a resistance, it is often not resistance.
Most people place short positions there,
And after their spot got off the market, the market continued to rise.
Generally speaking, only 10% of people in the market are in profit.
And most people expect the resistance,
The market often exceeds most people’s expectations,
The 10% profitable person is not always someone who has not misunderstood the market.
But it must be someone who can take advantage of the trend and change his mind instantly.
The next trend,
Is 18500 the high point of this market?
Although I am not sure,
But with the market overheating, I believe the high point is not far away.
Please think about it,
Most people will try to buy and go long prices in the support zone ,
16,500
15,800
Whether it is the price of entering the market.
The price I am interested in buying is located at 0.786-0.618 Fibonacci in this round of market.
I believe that at that price point,
The mood of the market will turn from greed to panic again,
But whether it can be as expected,
Let the trend be verified.
Look back on this year’s BTC trend,
There are three relatively large growth.
3/12-6/1 3800-10500
7/13-8/17 8800-12500
8/31-11/16 9800-18500
How many people have entered the market in these ranges,
After my observation,
I found that most people didn’t enter the market or got off early,
Because that BTC has reached the resistance level and start shorting.
What I want to ask is,
Did the market reverse?
How can we know whether a market trend has reversed or not?
How to wait patiently for the trend to form before entering the market?
When most people in the market consider the price as a resistance, it is often not resistance.
Most people place short positions there,
And after their spot got off the market, the market continued to rise.
Generally speaking, only 10% of people in the market are in profit.
And most people expect the resistance,
The market often exceeds most people’s expectations,
The 10% profitable person is not always someone who has not misunderstood the market.
But it must be someone who can take advantage of the trend and change his mind instantly.
The next trend,
Is 18500 the high point of this market?
Although I am not sure,
But with the market overheating, I believe the high point is not far away.
Please think about it,
Most people will try to buy and go long prices in the support zone ,
16,500
15,800
Whether it is the price of entering the market.
The price I am interested in buying is located at 0.786-0.618 Fibonacci in this round of market.
I believe that at that price point,
The mood of the market will turn from greed to panic again,
But whether it can be as expected,
Let the trend be verified.
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