Hope this idea will inspire some of you ! Don't forget to hit the like/follow button if you feel like this post deserves it ;) That's the best way to support me and help pushing this content to other users.
This is cool! I have some similar support and resistance zones on my chart, but based on not just TA but also human psychology. If you're interested, you can see it here:
Protixder
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check my chart ( 24-03 important day.)
ReallyMe
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In my opinion, this "attempted recovery" is not something that will last. Just another ruse, that's all. To understand what is really happening and how final it is helpful to take a look at the development of the Bitcoin / Gold ratio over the last five years. The thick black line was always the last support. On March 12, 2020, it was broken down massively and very aggressively and became the new long-term resistance. Thereafter, on 20th March, the price still tried to overcome the new resistance and was rejected. From now on it will go down for a very long time and very deeply. A "long holding strategy" makes no sense at all under these circumstances, unless you are willing to wait many years and want to risk losing everything in the end.