BITCOIN: Gann analysis right on the money
Gann points are which 2 or more Gann fans create an intersection point that the asset will likely move towards and either break through or get rejected. Using Gann fans we are able to increase our predictive ability not only on price action but also a timeframe on which the price will be acquired at.
Bitcoin hit one of the two intersection points perfectly on time and will now use those lines as support/resistance to continue its rally. My guess with the arrows are which the most likely scenarios are to come. News on bitcoin is starting to rise as how it previously did when bitcoins price started to fly upwards. This rally wont continue to fly upwards without coming back down so sell while you're making money.
If price at the blue 2/1 Gann line will not hold, a further drop is expected to the next major support line at 6250-6400.
Bitcoin hit one of the two intersection points perfectly on time and will now use those lines as support/resistance to continue its rally. My guess with the arrows are which the most likely scenarios are to come. News on bitcoin is starting to rise as how it previously did when bitcoins price started to fly upwards. This rally wont continue to fly upwards without coming back down so sell while you're making money.
If price at the blue 2/1 Gann line will not hold, a further drop is expected to the next major support line at 6250-6400.
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