Don't Miss Out! Bitcoin Support and Resistance to Ease Your Mind..

in #bitcoin7 years ago

OK, So looking back at the last 9 months or so I've clearly outlined the support and resistance zones that have been carved out by the price action. In the conclusion of the last 3 run ups (which came after breaking a prior resistance and making an ATH) price has pulled back to the previous resistance zone. This has just proved to be true for the most recent pullback in BTC from the most recent ATH of ~20K to the previous resistance (now support) of around 8K.

2018-02-02.png

So now you've seen it. Forget about all FUD and main stream bombardment of crypto and look at the raw percentages of what has occurred here:

From August to September BTC surged ~66% from 3-5K!
As a result, BTC pulled back ~40% from 5-3K!

From October to November BTC surged ~60% from 5-8K!
As a result, BTC pulled back 37.5% from 8-5K!

Now here's the crazy part..
From mid Nov to mid Dec BTC surged 150% from 8-20K!!!
As a result BTC has now pulled back ~60% from 20-8K!

Each of the previous resistance zones have turned to support following a new ATH.

So what does this mean looking forward? ---->Check this out-------->

2018-02-02 (1).png

So I'm definitely bullish on BTC so It's a little biased but it seems pretty straight forward to me. If history repeats itself (which it often does) this is what we might be looking at in the very near future.

This is the beginning of a revolution. HODL. The trend is your friend.

Always keep in mind that this is just my opinion! Happy trading!

Sort:  

It bounced off of resistance yesterday like an absolute champ! Buckle up, all; it may even take a bit, but that's okay given the overall trend is up. :)

I bet one more long wick into that support zone then.... better get your moon boots.

Congratulations @btmfd273! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

Upvote this notification to help all Steemit users. Learn why here!

Congratulations @btmfd273! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 1 year!

Click here to view your Board

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @btmfd273! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!