BTC(update of diagonal resistance)

By MR-V2020

Updated

Finally, the update of diagonal resistance network is complete
These lines are actually the important resistances of the market during the section 2-3 of the Fibonacci sequence. The so-called market is the battle of market bulls and bears.
The intersection points of the resistances provide us with valuable information based on the price position.
These diagonal lines, along with Bitcoin's movement rules and where balances meet price levels, etc., are very key for long-term analysis.
These diagonal lines can also be drawn in smaller time frames.
In short: it shows a general road map

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Why did the price of 26,700 become a resistance?
As mentioned in the 0.886-1.13 rule, the first strong rebound break after crossing the 1.13 level is the 0.707-0.5 interval.
In most cases, 0.5 (if we take the RET of the return wave, its level will be different and will be as above)

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The discussion that exists now is that a double bottom has been formed and there is hope for an upward trend. But as mentioned before, in the daily time frame, the wave after crossing 1.13, in the reverse mode, from The level of 0.886 has been crossed. Therefore, as long as it is not violated by another existing law (15 other laws), the price can still be pulled below 22k.

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In the lower time frame, diagonal resistance network(FSRF) like the example above can help us
This is not part of Bitcoin's motion rules, but it is very necessary for analysis

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The scenario of falling from this area means reaching the price of 21,638!!!

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Target 1 and 2 seem inevitable, but the third target depends on target 2

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Use the 0.886-1.13 rule

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Approaching the first intersection
(4H TF)

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DAILY TF

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Trends start with the beginning of the Fibonacci sequence.
1-1-2-3-5-....
Crossing section 1-1 and reaching 1-2 depends on wave correction of size (0.5). After that is a sharp move to the exit from the height of the previous wave(size 1). What is happening now is an incomplete cycle and does not indicate the beginning of an uptrend.(Until this moment)

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Talking about an uptrend and a new ATH, more time is needed

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No rules have been broken yet. seems a big crash is ahead

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The big wave is coming

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A gift was given to you on July 26th to thank you for your support. I hope you enjoyed it.
(note that this is the beginning of its movement)

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For the current conditions of the market, a positive trend is not seen due to the intersections that are ahead. Until October 24

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The first chart shows that the price has entered section 5 (in the lower time frame, we are in section 1-2 in the higher time frame), which is the kinetic part of the movement. Also, the 1 Fibonacci level means the completion of the 1-1 cycle in the smaller time frame. The intersections also show that importants movements will begin on October 24th.

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Crossing this resistance means preparing for a big move(4H TF)

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keep an eye on this general cycle

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As the intersection indicated, the first move was made. The second intersection is very close

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On April 27th, there was an expectation of a Sharpie move towards the current target. But this move happened in October. The reason was not fundamental, but a miscalculation in drawing the diagonal support & resistance network.

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This is all that should be understood (the price chart is not desired here)

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Another intersection.be careful

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If the beauty of the bitcoin movements in this chart was not clear, I would never publish it

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Using the moving average in this market is not as useful as other markets. One simple reason is the large and sharp waves that exist in this market. Experience has shown use of diagonal resistance networks can be much more useful than The moving average . This network can be drawn in all time frame and it is a dynamic network that moves with time and price.
Using this network resistors with Bitcoin movments rule and Fibonacci series (and percentage of It) ,will give us a perfect analysis for all time frames

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The very important thing we need in analyzing is to know that the market is in the possession of bears or bulls! It is interesting to know that this network of resistance specifies this to us!
Resistors with a positive slope belong to bulls and resistors with a negative slope belonging to bears

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Before the thirst for December, this possibility of motion is there

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This trend will enter the uncontrollable growth phase after the correction (this chart was tweeted last year)

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Based on 2-year cycles, as mentioned in the previous year, after the correction, we will enter the explosive growth phase of Bitcoin. (Long term)
Sorry, green is correct

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As can be seen in the chart, the time of growth of altcoins has begun

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4H TF

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Breaking this diagonal resistance means the price will rise to $48,500.
If this blue resistance rejects the price, the diagonal resistance below it will support the price ($39,000).

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Target touched.
After the correction we will have an upward trend in the Altcoins

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Bitcoin's growth potential is up to the specified area, after that we have to wait for a correction

MR-V2020

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