Trading
June 8 – BTC analysis
The following is my monthly analysis of BTC, containing support and resistance (SR) lines, round numbers, the Fibonacci Golden Channel (GC), and the Volume Point of Control (VPOC).
![Figure B.1 – BTC analysis on the monthly chart](https://static.packt-cdn.com/products/9781837631285/graphics/image/B19414_B_01.jpg)
Figure B.1 – BTC analysis on the monthly chart
Here are some notes on the preceding chart:
- I’m not including all possible SR lines but, rather, focusing on the main ones that are identified before and after significant price swings.
- I also focus on the two lines before and after the current price; I don’t need to analyze a price range where BTC will not arrive for the next year.
- I’m not adding all the SR lines possible, only the main ones (found before and after big swings).
- I’m not adding the line on the precise price. I’m just looking for the area where the price will react. And since I’ll be trading on the 4H and lower timeframes, I will adjust the lines when I get...