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BTC support and resistance zones ( a treasure map) This chart is a treasure map, all could happen, it only delimite some zones that is relevant in my vision. Following some important zones explanations. I don´t believe in support and resistance lines, but in zones (areas). Explanation for areas (zones) : I believe in the current moment we are not in a downtrend, but it is a correction of a violent pump until 20000. That's not to say we should buy btc now. Just do not worry so much until btc loses the 4941 and then the 2821, then yes, we will be joining a downtrend. Something I hope will not happen, but the future is not written yet. Below 4941 begins an indication that we are actually coming off a corrective wave and entering a downtrend that can last for quite a while. If you lose, 2821, it will be confirmation of that. The green area between 6000 and 7000 are the areas that I consider as a bigger support, good risk benefit for purchase. 8218 through 7930 is a smaller holder that was broken today. 8982 I consider a fast zone, hitting it, it will not stay long, or it goes up or down ... it's a good area for short or long, according to what you believe the BTC will do. 9976 a small resistance. 11261 up to 12000 strong resistance ... I will be making my first sale probably in this area ... if it passes from it until about 13000 or 15000, this zone can be a good buying area. 13439, I consider it a fast zone. 15557, 17139 and 19699 ... resistances growing stronger. I do not think we'll pass 17139 this semester. Passing from 19699 and later from the 20k ... next major area will be the 24000, from there ... the sky is the limit, it will be consolidated a strong uptrend in my opinion. Of course the market is cyclical and this will not necessarily occur in a single wave ... but as we are talking about cryptocoins, it is something possible. Good trades.
by gastaum