Bitcoin Graph: Textbook EXEMPLORY CASE OF Support Turned Resistance

in #bitcoin6 years ago

Bitcoin Graph: Textbook EXEMPLORY CASE OF Support Turned Resistance

Although I've never held a cent of any cryptocurrency, I find their graphs fascinating. These are much better-behaved than equities nowadays...maybe because they're actually - gasp - allowed to move up and down predicated on natural financial regulations rather than trillions of us dollars of distortion.

Anyways, Bitcoin is the ruler of these all, and its own chart is specially interesting. It broken its symmetric triangle (red group below) and earth right down to under $6000, having peaked at almost $20,000 previous Dec. However, it rallied mightily up to, yep, just underneath that destroyed trendline. Here we visit a textbook exemplory case of support magically changing assignments to resistance.
pic28213d4b3191c1da2e0fc69a1f826036.png

BTC Chart

Looking much better, you can view how a tiny bullish basic was formed, and some days and nights ago the crypto space exploded higher. It had been a one-hit think about, however, and unless $BTC conquers that trendline, it reaches risk of carrying on to erode in the weeks and weeks ahead.

pic8783ac0d98077b22dffc3bd780b3079d.png

Crypto

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Yes bro very true support turns into resistance and resistance turns into support and this not with bitcoin it happens with every stock or commodity u trade but thank you for this information

you welcome brother and tnx for comment

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