As you can see, within the 11,600 - 13,000 zone there are multiple layers of resistance. The more times it has bounced off the resistance in the past, the stronger that resistance is. Here is my analysis of the strength of each resistance level.
$11,600 = 4 Occurrences (Yellow)
$11,900 = 4 Occurrences (Blue)
$12,000 = 1 Occurrence (Green)
$12,200 = 2 Occurrences (Red)
$12,800 = 1 Occurrence (Purple)
$13,000 = 1 Occurrence (Light blue)
Based on the personality of this recent bull run, we shouldn't stop long for any resistance EXCEPT for $11,900 and $13,000. $11,900 should provide the same amount of pain as $11,600 gave us, so expect a dip back down to $11,500 or so when it hits near $11,900.
At $13,000, we could see a correction judging by the reversal that happened last time we tried $13,000. There is a lot of fear at this level, and for a very good reason. If this worries you, I would suggest selling at $12,700 and waiting for Bitcoin to cross $13,100 before buying back in. Yes you will miss out on $400, but that's the price of insurance.
Well, as I mentioned before I see it more secure at the levels of 11,800 and 12,200. because also there are the daily pivots + fibo level since the last fall, the truth is that your impression seems more than correct, consulting your impression on my graphic I see that it is a clear reflection, all the levels that you established they are correct to my point of view
This is something I have struggled with in the past and it seems like I now finally have a good understanding (based on your feedback) of how to appropriately identify resistance levels. I will also continue to chart resistance levels going forward to help others. Thanks again.
RodrigoGarreton
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@ttrending, nothing friend is a pleasure that we can highlight together the possible scenarios
ttrending
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@RodrigoGarreton, Excellent work. You nailed the $11,800 resistance! I hope you were able to capitalize from it. Looking for that long green candle with volume now to indicate a reversal...
RodrigoGarreton
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@ttrending, If friend, a little scared but I left in 11700 almost panic and I go back to buy, but I did not and I saved ajajaja, now I'm trying to see where exactly it will stop, since it is playing quite