Btc chart done using an experimental method.
The arches up (green) show an uptrend and they also act as support if the price is on top of them, or resistance if the price is under them.
The arches down (red) show down trend and they act as resistance when the price is under them, and support when the price is above them.
The tip of the trendlines show the the target price.
The horizontal lines are support and resistance.
For each bull target you will have a bear target.
The arches up (green) show an uptrend and they also act as support if the price is on top of them, or resistance if the price is under them.
The arches down (red) show down trend and they act as resistance when the price is under them, and support when the price is above them.
The tip of the trendlines show the the target price.
The horizontal lines are support and resistance.
For each bull target you will have a bear target.
Comment:
Brakeout is when a full green candle is opened and closed on top of the chopping zone and it does not touch it.
When going for the bear target a full red candle needs to be opened and closed under the chop zone with no wicks touching it.
When going for the bear target a full red candle needs to be opened and closed under the chop zone with no wicks touching it.
Trade active:
Price breakout from the chop zone, heading to target1
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