Support and resistance system for cryptocurrency trading should only be used in a higher timeframe chart, like one hour and above. This is necessary because at such a higher time frame, brokers cannot manipulate the price to my disadvantage.
How I draw strong support and Resistance for Bitcoin, Ripple or Etherium.
Before I call a level strong, the same level must met the following conditions.
Again, when drawing my support and resistance levels for crypto trading, I use a range, not a single line, this is because price tends to test particular level before retrieving, range caters for these levels.
Wave Analysis: On the 4 hours chart attached, Bitcoin is still a few pis above the daily support level 5877.68. We expect a possible rally towards this support and even a breakout to the lowerside. According to the 4 hour chart above, Bitcoin is likely to traded within a wider range, not going abov
Wave Analysis: After breaking below the 4 hour support level 368.18, Ethereum pulled back to the same level and is now heading to the lowerside. As long as the price remains below 368.18 and within the falling wedge formation, we expect a possible momentum to the lowerside, the anticipated bearish
Wave Analysis: During the previous trading day, both the impulsive waves (v) and (E) extended significantly to the lowerside and is still showing signs of rallying further to the lowerside. While the price is below 0.3040, we expect nothing but a possible acceleration to the lowerside. If you&rsquo