Cant make it more simpler than this :)
I am using a 4 h chart but any time frame will do.
This is really simple way to see where the possible decision zone or price is.
If one (or 2) moves above/below the R or S line but the rest refuses to follow, there is strong probability for the change in direction.
In this particular case, if ETH and or LTC wont make it above the same line as BTC, BTC will fail too and search for next support starts.
I am using a 4 h chart but any time frame will do.
This is really simple way to see where the possible decision zone or price is.
If one (or 2) moves above/below the R or S line but the rest refuses to follow, there is strong probability for the change in direction.
In this particular case, if ETH and or LTC wont make it above the same line as BTC, BTC will fail too and search for next support starts.
Trade closed: target reached:
now you find a next level (S or R) that matches and go from there.
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Finding the decision zone. Follow or fail.
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BTC is still stuck right under that R LTC is no better.
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to make it more obvious, I used 1 H
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Here is the latest update. Levels have slightly changed, new R added
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As you can see, BTC failed to make it above R and dragged everything else down with it.
