Over the past few months,
BTC
seems to find a pivot at 20% extensions of the up/down movement. To find sup/res points, what one can try is: take the last significant low/high and draw a rising/declining line at a rate of 12.5 USD per trading day from the chosen high/low.
The current example is highlighted on the chart; an info line is provided for easier reference.
The given dynamic support area is likely to have some maker bid volume, which usually translates into stop loss volume hurdles, effectively providing setups in both directions depending on which side overwhelms the market at these points of exchange.
Keep your eyes on the prize, manage your risk appetite and stay tuned
BTC
seems to find a pivot at 20% extensions of the up/down movement. To find sup/res points, what one can try is: take the last significant low/high and draw a rising/declining line at a rate of 12.5 USD per trading day from the chosen high/low. The current example is highlighted on the chart; an info line is provided for easier reference.
The given dynamic support area is likely to have some maker bid volume, which usually translates into stop loss volume hurdles, effectively providing setups in both directions depending on which side overwhelms the market at these points of exchange.
Keep your eyes on the prize, manage your risk appetite and stay tuned
Kommentera:
Updated version with the resistance angle line coming from the most recent pivot high.