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 After bouncing from the supportive trendline, Bitcoin has been in an up trend but is still not actively upwards. We expect the rebound from the lower trendline to have marked an end to the corrective wave (D) That the current bullish price rally is the unfolding of the last impulsive
Wave Analysis Currently, ETH is correcting itself to the upperside within the rising channel formation. We expect the upward rally that began on 11th to be the unfolding of the corrective three wave cycle and should not go beyond 250.85, if this target is broken, then further momentum to the uppers
Wave Analysis Not much has happened on this crypto following the previous says forecasts. The price is still above the upper trendline. As long as the price remains above the upper trendline, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the cont