*DISCLAIMER: This is a very rough Price analysis considering we are in a currently volatile price action range, therefore it is vital to do your own research if investing into any given market (especially crypto) .... This chart conveys my opinion
Yes, this idea is seemingly a disarray of lines going everywhere. HOWEVER, I have constructed this chart layout on the fundamental price action points and the key support/ resistance levels rated in my opinion of their significance; (Yellow - Low), (Orange - Medium), (Red - High).
... then leftover, the transparent blue lines convey my perspective on the price direction with the solid blue line (very important) being the Current Cycle Trend Line from the 26th of August.
If the price breaks down further than the final support line ($37,590) then we might be facing a further downtrend to around ($36,600)
Credit goes to 'barchart' which I used to generate the key levels on the graph (I recommend using this as a reference)
Yes, this idea is seemingly a disarray of lines going everywhere. HOWEVER, I have constructed this chart layout on the fundamental price action points and the key support/ resistance levels rated in my opinion of their significance; (Yellow - Low), (Orange - Medium), (Red - High).
... then leftover, the transparent blue lines convey my perspective on the price direction with the solid blue line (very important) being the Current Cycle Trend Line from the 26th of August.
If the price breaks down further than the final support line ($37,590) then we might be facing a further downtrend to around ($36,600)
Credit goes to 'barchart' which I used to generate the key levels on the graph (I recommend using this as a reference)