I like to use this ready made Support and Resistance Indicator, that shows you when a S and R has been created.
This is a 2 week candle chart so it is very powerful. The Monday that just went past was the 2week close and the structure has shown Support has been found and this has not happened since the March 2020 Covid Crash when BTC bottomed at $4000 and rose to $69,000 18months later.
The position of the Stoch RSI is different, we are oversold at the moment compared to that of 2020 it was heading downwards.
We also have support from the supertrend keeping it up while forming a double bottom. Marketcap cannot break 1.27T on this chart as that would invalid this analysis.
This is a 2 week candle chart so it is very powerful. The Monday that just went past was the 2week close and the structure has shown Support has been found and this has not happened since the March 2020 Covid Crash when BTC bottomed at $4000 and rose to $69,000 18months later.
The position of the Stoch RSI is different, we are oversold at the moment compared to that of 2020 it was heading downwards.
We also have support from the supertrend keeping it up while forming a double bottom. Marketcap cannot break 1.27T on this chart as that would invalid this analysis.
