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
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...
