SforShiraz

Past Resistance-Present Support

BITSTAMP:BTCUSD   Bitcoin
I would like to put my focus on this resistance trend line that now has a very high potential to become our support. Personally, I will wait for the price to retest this level and buy upon confirmation with a nice green candle. I believe we just completed 5 Elliot Waves and I'm expecting an ABC correction, where price would fall on the past resistance line and turn into support. This level is equivalent to 38.2% Fib Retracement Level. Others might wait for the price to retrace to 50% or even 61.8% Retracement Levels, but I'm not willing to take that risk.
Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.