Bitcoin. Support levels you have to know about. Yes all of them.Hi.
Sorry if the chart is so flashy and full of spam, but every single line is important.
Zoom out they say, but you also have to zoom in or you can't see anything anymore.
You can't trade really well if you don't know about all these levels.
Let's look at it a bit further.
First, the levels above 9000, which are in the past.
Danger. 22 December high panic, even pink level didn't hold.
We bounced shortly below thought. When we were near a support with oversold RSI, it was enough to get it to bounce:
We could see some bullish divergence btw these times.
Consolidation phase before the crash to 6k, which is where we are now basically.
Let's zoom in this area, the crash to 6000$, including the "no pink area" freefall in an area with no really strong supports:
Looking at where we are now:
We can see on my chart the - grossly - 5600 to 6200 area is fuuuull of pink. Very resistive. I'll expect Bitcoin to bounce here in the next days, before continuing further down in the highly pink, highly supportive 4050-4600 area. We could also bounce higher, so it will be important to scale, and our friend the RSI will help us with sizing and being confident on being close to bouncing. Below 4050 there's literally nothing till 3600 :) But that's a story, for another time :)
Also, I could do the same with 2014. Or any other period tbh.
+++ I have no idea what I'm doing +++
