Trying a new method to display Zones on a chart without have my drawing scroll off with the chart. The price zones are precisely calculated but of course the nearby ''round'' number is worth observing.
BTC dove through distances where I did not see any such zones. Now that I see a number of bands below price, I think we are close or getting close to a 'Bottom' (famous last words?)
NOTE: If you drag up or down on the right axis, you can blow up or shrink chart vertically. Drag UP to magnify so you can see overlapping prices better as they separate. Drag DOWN to see zones above and below current chart display.
This idea is a follow up to my previous post where the zones were shown in green as support. But from now on I will refer to them as Zones of Interest since 'Support' and 'Resistance' flips.
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Nice breakout of the cluster. Up ahead is a resistance zone.
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. The beauty of FIB based support/resistance. Notice the rejections at 7595.xx, NOT 7600 even, but based on a Fib Resonance
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Still stuck in the Fib zones.
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Give me a ping Vasily, ONE ping only please
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Testing bottom band again, probably will not hold this time
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Each energy level acts as a magnet, sometimes attracting sometimes repelling
Will not hold as how? Are we still going down or what? Explanation please
EuroMotif
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@musliudeen77, 'will not hold' as in I was expecting lower. That area bounced the price once. Second visit, the bounce was minimal which meant those buyers are gone now....
darkandblue
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You will get a ping on the next one too!
EuroMotif
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@retiringsoon1, ha, probably. But looks like currently range trapped by the zones. perhaps consolidation accumulation in preparation for a leg up>