ETH/USD Coinbase
This is a view of the weekly price action I mentioned in my daily chart (tradingview.com/chart/ETHUSD...). What's interesting is how price still interacts with the support/resistance levels identified on the daily. You'll notice they are applicable even though they were meant to analyze support/resistance levels for the daily time-frame. There is clear confluence between the price and these support/resistance levels. Cool, huh? Coincidence? Nope! This happens across all asset classes. No matter what symbol you're charting, you'll notice this same phenomenon occur. Human nature is to recognize and respond to these types of occurrences on a subconscious level, driving the cycle to propagate. Anyway, let me get this posted and if I forgot anything I'll try to come back and add it in the comments at a later date.
Below excerpt is from my previous post of COINBASE:ETHUSD (found here:tradingview.com/chart/ETHUSD/l0JdAnMC-ETH-USD-Coinbase/)
I'm just posting this to see how future price action interacts with the current support and resistance levels I've identified. This is one of many that I will be posting to follow.
I regret not doing this while the market was correcting. With all of the things going on in my life, the thought just never came to my mind.
You'll notice this one is charted in LOG. That's to make it easy to see the big picture insofar-as price action is concerned. When viewing a chart in LOG, it is easier to see the entire price action history because increases to new price points do not dwarf and drown out the price interaction at lower levels as is the case when looking at price action linearly.
I'm going to post a chart for Daily, Weekly, and Monthly(and linking it to this one) so we can get different perspectives of how price is interacting with the support/resistance levels on different time-frames. This should help to develop a better understanding of price action at the support/resistance levels identified and how price action correlates with certain events. I should add difficulty adjustments, forks, etc. so that we can really get a good idea how these events effect price. I'll do that later. Let's get this posted and come back to that in a bit.
RELATED IDEAS
Below excerpt is from my previous post of COINBASE:ETHUSD (found here:tradingview.com/chart/ETHUSD/l0JdAnMC-ETH-USD-Coinbase/)
I'm just posting this to see how future price action interacts with the current support and resistance levels I've identified. This is one of many that I will be posting to follow.
I regret not doing this while the market was correcting. With all of the things going on in my life, the thought just never came to my mind.
You'll notice this one is charted in LOG. That's to make it easy to see the big picture insofar-as price action is concerned. When viewing a chart in LOG, it is easier to see the entire price action history because increases to new price points do not dwarf and drown out the price interaction at lower levels as is the case when looking at price action linearly.
I'm going to post a chart for Daily, Weekly, and Monthly(and linking it to this one) so we can get different perspectives of how price is interacting with the support/resistance levels on different time-frames. This should help to develop a better understanding of price action at the support/resistance levels identified and how price action correlates with certain events. I should add difficulty adjustments, forks, etc. so that we can really get a good idea how these events effect price. I'll do that later. Let's get this posted and come back to that in a bit.
RELATED IDEAS
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