There has been so much chatter on Bitcoin that I decided to give some perspective. This is a daily chart which shows all of the major support and resistance lines.
My solid lines are MAJOR supports and resistance which may be breached intraday, however, be very aware if they close out the day outside of these lines.
My dashed lines are my WEAKER support and resistance lines. These may be used for shorter term moves and may even give rise or fall to big moves but always bear in mind that the TRUE risk is with the solid lines.
Currently Bitcoin is near the top of its playing field and breached its short-term support. It is also rapidly approaching its weaker resistance line so prepare for a battle.
Keep in mind that short-term upside is max about 16% while downside risk is about 40%.
I will create a short-term analysis to see if anything stands out. 2/23 B4 market close
My solid lines are MAJOR supports and resistance which may be breached intraday, however, be very aware if they close out the day outside of these lines.
My dashed lines are my WEAKER support and resistance lines. These may be used for shorter term moves and may even give rise or fall to big moves but always bear in mind that the TRUE risk is with the solid lines.
Currently Bitcoin is near the top of its playing field and breached its short-term support. It is also rapidly approaching its weaker resistance line so prepare for a battle.
Keep in mind that short-term upside is max about 16% while downside risk is about 40%.
I will create a short-term analysis to see if anything stands out. 2/23 B4 market close