BTC Chart 5/30/2021
My first public chart , so if there are things that look incorrect please feel free to leave a comment, or some constructive criticism .
This chart was drawn by going through multi timeframe analysis , drawing my trend lines , support & resistance zones , and finally overlaying the Fibonacci retracement tool on the final chart . I erased the other lines to make it easier to read . I am limited to my mobile device so it's not easy drawing charts on it .
I think the price will remain trapped between the resistance of the .618 & the 200 day EMA & would hopefully catch support at the .382 line . The price is moving up into the rejection zone while volume is decreasing so I don't see it breaking the resistance line at this time .
I'm new to TA , and drawing charts , so by the time I post this it could be a total bust , or it could be totally wrong .
I just draw these for fun as I learn. I actually use these to try and predict if hourly prices will go up or down for an online game I play called Crypto Pick. You pick prices & enter tournaments to win "Pickies" , which are used to enter tournaments, wager , and purchase skins . You can also play for real ETH without risking any real money , so it's great for paper trading practice . The only problem is that the market doesn't always line up with timeframe of the hourly picks , so it's tough .
Just thought I should explain why I'm even drawing this . This is strictly for entertainment purposes , and not any type of financial advice. Thanks for stopping by !
This chart was drawn by going through multi timeframe analysis , drawing my trend lines , support & resistance zones , and finally overlaying the Fibonacci retracement tool on the final chart . I erased the other lines to make it easier to read . I am limited to my mobile device so it's not easy drawing charts on it .
I think the price will remain trapped between the resistance of the .618 & the 200 day EMA & would hopefully catch support at the .382 line . The price is moving up into the rejection zone while volume is decreasing so I don't see it breaking the resistance line at this time .
I'm new to TA , and drawing charts , so by the time I post this it could be a total bust , or it could be totally wrong .
I just draw these for fun as I learn. I actually use these to try and predict if hourly prices will go up or down for an online game I play called Crypto Pick. You pick prices & enter tournaments to win "Pickies" , which are used to enter tournaments, wager , and purchase skins . You can also play for real ETH without risking any real money , so it's great for paper trading practice . The only problem is that the market doesn't always line up with timeframe of the hourly picks , so it's tough .
Just thought I should explain why I'm even drawing this . This is strictly for entertainment purposes , and not any type of financial advice. Thanks for stopping by !
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