BTC Tear my analysis apart

14 มี.ค. 2018

Please by all means tear my analysis apart. Im here to learn and would appreciate any comments on my charting or over simplified version of this complex issue.

9250 - 9400 seems to be resistance to me. The last attempt was unsuccessful. The way I think about Support/Resistance is like a horse trying to make a jump over a fence.
If it sucessfully jumps the fence....it takes off. If it fails to jump the fence, it has to turn around, go back and gather more momentum for the next attempt.

As I am new to trading, I have no idea which indicators are most suitable to judge whether resistance will be broken or support upheld. As a result of this I have been exiting my trades early on the approach to resistance levels.

I have been trading on the basis that BTC will stay within the above channel (RED AND BLACK LINES) and trend line (BLUE)

I enter on the red, and either exit before resistance or on approach of the blue trend line.

Ive entered this trade at 8680, I plan on exiting at 9250.

Your comments are much appreciated and thank you for your time.

BTCUSDT

18 มี.ค. 2018

บันทึก

Seems it has made its mind up. A slow and steady bleed