This is not a financial idea, I may be wrong, it's only my opinion, you are responsible if you follow my thoughts.
BTC failed to get the momentum to develop higher targets, so traders will cut their loses now before it too late especially the bad news doesn't stop raining. You can buy in portions at each support(Better to buy at the second support, the first probably is too weak to bounce up) so in the end you get average buy price and sell at resistance. I have been following BTC chart since December so all resistance and support lines are drawn and here the keys to read the color and thick meaning:
BTC failed to get the momentum to develop higher targets, so traders will cut their loses now before it too late especially the bad news doesn't stop raining. You can buy in portions at each support(Better to buy at the second support, the first probably is too weak to bounce up) so in the end you get average buy price and sell at resistance. I have been following BTC chart since December so all resistance and support lines are drawn and here the keys to read the color and thick meaning:
- Bold line means strong resistance/ support.
Yellow for the 04H frame.
Brown for the daily frame.
