Markets are simple if you think about it.
rule: break outs always must coincide with 200dma rallies.
Bonus.
keeping it simple.
P.S. this method shows why odds favor BTC reversal. Or why 110/120k had to be peak point. for now.
- moderate and long range resistance -- is the best odds for rally.
- "horizontal" or 50-50 supports -- risky.
- steep supports mean high demand, strong trends. Buying at such supports, at worst it bounces to the upside. (High market with strong trend can mean reversals)
rule: break outs always must coincide with 200dma rallies.
Bonus.
- High market, strong trend -- best odds for reversal.
- 50-50 resistance, with weak support --> trickster market. (trap)
- strong trend but no flying 200dma --> trap.
- 50-50 resistance with strong trend, high market, but weak 200dma ---> good odds for reversal.
keeping it simple.
P.S. this method shows why odds favor BTC reversal. Or why 110/120k had to be peak point. for now.
Note
Nov 25th: Spot on.high price, 50-50 resistence, "strong trend" -> reversal
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.