FTM with a possible 125% long profit!
Diupdate
Hello, I hope everybody is enjoying the New Year holidays, especially fellow crypto-traders. Forgive me for this messy chart, but I had to make a mess to make key resistance and support areas clear.
Red lines are the historical levels of selling pressure, and almost everyone of them is overlapping with an important Fibonacci level. So, every time you see a red line consider it a resistance. Also the dynamic resistances, as 21,55,100 and 200 EMA are acting as resistance therefore they are also illustrated in red. Thick lines are the ones that breaking them needs a strong momentum. But the good news is although they are hard to break, once these bad-ass areas of resistance get broken, chances for them to behave as bas-ass support areas are very high.
Green lines are the historical levels of buying pressure or support. The thicker the green line is, the more bulls are buying at that level.
As you can see in the chart, the price is trapped between 21,55,100,200 EMAs , 61.8 Fib level and a steady bullish trendline. Breaking of each areas, in both directions can surprise us in terms of a long-term long or short-term short position.
At this point, although bullish by heart ;) , technically I am neutral until a level is broken.
I would be very grateful if you guys share your thoughts with me about this analysis.
happy trading :D
Red lines are the historical levels of selling pressure, and almost everyone of them is overlapping with an important Fibonacci level. So, every time you see a red line consider it a resistance. Also the dynamic resistances, as 21,55,100 and 200 EMA are acting as resistance therefore they are also illustrated in red. Thick lines are the ones that breaking them needs a strong momentum. But the good news is although they are hard to break, once these bad-ass areas of resistance get broken, chances for them to behave as bas-ass support areas are very high.
Green lines are the historical levels of buying pressure or support. The thicker the green line is, the more bulls are buying at that level.
As you can see in the chart, the price is trapped between 21,55,100,200 EMAs , 61.8 Fib level and a steady bullish trendline. Breaking of each areas, in both directions can surprise us in terms of a long-term long or short-term short position.
At this point, although bullish by heart ;) , technically I am neutral until a level is broken.
I would be very grateful if you guys share your thoughts with me about this analysis.
happy trading :D
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