$BTC basic resistance/support 101. Long

24 de jan. de 2023

Basic concept "Resistance and Support". Using Fib scale as our resistance and support levels.
Things to Note

• Do not ignore the wicks.
  
• Do not ignore the wicks!!!!
  
• Left to right - White box is start (bottom left) of support bounce to start (Top Right) of a resistance bounce
  [*) Fib levels are respected - Clear wick action where price is pushed with force in the opposite direction at said levels. Also know as a bounce.
  
• If we "bounced" off the bottom Fib level then our next bounce opportunity in the opposite direction is at $29,000