Like this one. Puts a different perspective. I think there is reason to have faith on white support lines. The equiv of the 200daily MA is lurking in orange as another key reference point.
Key thing i want to see is some drilling into those white support/resistance lines just like the blue example. The red amber green is not painted for buyers perspective, but optmistic hodler. So green is, if we drill into resistance like the blue, bullish.
I put the daily 200 MA in because it co incides with the middle scenario i had my eye on anyway as additional important support area.
But i dont often watch these drills into upward sloping support and these lines have been drawn for a while and continue to be relevant i think.
What i like about this , is it feels you can maybe go in with tight stop losses here and if it fails that support, you know where the much steeper next step is likely to be down. So nibbling here might be a worthy thiong to do on that support we are at now.
Not painted here but arguments for accumulation as well and re challenging/flattening the 20MA on 4hr which is always good, as well as is (again not painted) being miles below your 50 and 200 MA on 4 hr, especially as they have just crossed. I am a firm believer that death/golden is less irrelevant in comparison to where the price action is at that point, in relation to the MAs.
Anyways, lets see if we see some drilling into these over the coming days weeks.
The red is painted because that is worst case scenario for now, as the purple line is the downward resistance from 368 that was recent broken out of, so a kind of a last resort.
Feels sensible perspective to me. Oscillators may suggest we go from here, but daily says a bit more to go perhaps.
Key thing i want to see is some drilling into those white support/resistance lines just like the blue example. The red amber green is not painted for buyers perspective, but optmistic hodler. So green is, if we drill into resistance like the blue, bullish.
I put the daily 200 MA in because it co incides with the middle scenario i had my eye on anyway as additional important support area.
But i dont often watch these drills into upward sloping support and these lines have been drawn for a while and continue to be relevant i think.
What i like about this , is it feels you can maybe go in with tight stop losses here and if it fails that support, you know where the much steeper next step is likely to be down. So nibbling here might be a worthy thiong to do on that support we are at now.
Not painted here but arguments for accumulation as well and re challenging/flattening the 20MA on 4hr which is always good, as well as is (again not painted) being miles below your 50 and 200 MA on 4 hr, especially as they have just crossed. I am a firm believer that death/golden is less irrelevant in comparison to where the price action is at that point, in relation to the MAs.
Anyways, lets see if we see some drilling into these over the coming days weeks.
The red is painted because that is worst case scenario for now, as the purple line is the downward resistance from 368 that was recent broken out of, so a kind of a last resort.
Feels sensible perspective to me. Oscillators may suggest we go from here, but daily says a bit more to go perhaps.