Support zone instead of simple support (Bitcoin fake breakouts)
Updated
Sometimes just a simple line is not working and this is the time that zone gets its meaning.
so instead of using so many lines, we can use <<Rectangle feature of trading view>> and create some support and resistance zones instead of simple support and resistance.
here take look at the Bitcoin example in previous weeks:
But let's take look at the 30K support zone instead of the 30K support:
and let's take look at Forex and the same scenario:
here take look at the USDCAD example in the previous month:
But let's take look at the 1.2060 support zone instead of the 1.2060 support:
<<👍hope you enjoy👍 >>
so instead of using so many lines, we can use <<Rectangle feature of trading view>> and create some support and resistance zones instead of simple support and resistance.
here take look at the Bitcoin example in previous weeks:
But let's take look at the 30K support zone instead of the 30K support:
and let's take look at Forex and the same scenario:
here take look at the USDCAD example in the previous month:
But let's take look at the 1.2060 support zone instead of the 1.2060 support:
<<👍hope you enjoy👍 >>
Note
Notice: As we talked about it in the previous analysis too, fake breakouts are strong reversal patterns like now that bitcoin is still pumping.
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MMCrypto, Lark Davis is also Bitunix’s partner!
My telegram channel:
t.me/mmbtchannel
Crypto +280% profit/month.
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