Mihirr
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How to use resistance and support during an uptrend?
Resistance can be used to track weakness - it simply means that momentum has slowed down. This could lead to either a correction or sideways movement.
Support can be tracked to monitor the progress of an uptrend. It is the trend-level support that determines a reversal, not resistance.
#TechnicalAnalysis # Crypto #Stocks # Commodities
NOT-3.56%
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BTC has not even broken the medium-term trend, which in my view is the 1-day timeframe.
Only the weekly trend is important for cycle-level analysis in crypto.
As long as the 1-day trend is intact, there is no concern for the weekly trend at present.
#BTC# $BTC #Bitcoin#
BTC-1.91%
NOT-3.56%
IN-10.37%
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Two trend lines on a linear scale are forming a resistance zone for BTC.
It is still near a breakout level; however, $120k is required to relieve the downside pressure.
The PPI report has definitely made a big dent in the momentum.
#Bitcoin# #BTC# $BTC
BTC-1.91%
DENT-1.91%
IN-10.37%
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BTC’s throwback was supported by the breakout line, which was a resistance earlier and has now acted as a support.
#BTC# $BTC #Bitcoin#
BTC-1.91%
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BTC made a new ATH 🥂
Reminds me of 2017-2018 bull run.
$BTC #BTC# #Crypto# #Bitcoin#
BTC-1.91%
ME-2.44%
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Litecoin’s 8-year consolidation is nearing its end.
[This indicator is given to students with my TA course]
LTC made an ATH in Dec 2017. Later, in May 2021, it retested it but couldn’t make a new high.
It has formed a higher low and lower high pattern - a bullish consolidation.
#LTC $LTC # Litecoin
LTC-1.28%
TA-5.37%
IN-10.37%
MAY-2.96%
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ETH is preparing for a new cycle!
#ETH# $ETH #Ethereum#
ETH-2.81%
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LINK stepping stones. Heading up!
#Chainlink# $LINK #LINK# #crypto#
LINK2.06%
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BTC has been trying to break above the orange line since January 2025.
The pattern is not horizontal but angled upward, which makes it tricky to decode. However, we understand it now.
#Bitcoin# #BTC# $BTC
BTC-1.91%
ORNG-1.37%
NOT-3.56%
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This is Altcoins/ETH chart to show performance of Altcoin versus ETH.
It has been going down for last 4 months. Means, ETH was outperforming rest of the coins.
Now it has hit a monthly support.
#Altcoin# #ETH# $ETH #Ethereum# #Crypto#
ETH-2.81%
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According to one of my top indicators, BTC dominance is near a weekly support (Support-4) at around 58.35%.
This support defended BTC dominance in Dec 2024.
Now, it has reached a similar moment. Will it defend this time as well?
We’ll know in a week or two.
#Bitcoin# #BTC# $BTC #Crypto # BTC#Dominance
BTC-1.91%
IN-10.37%
LL-0.21%
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My focus is Core CPI and that is up!
CORE-1.02%
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CPI numbers tomorrow!
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BTC faced resistance at the previous/recent ATH.
This is normal behavior, as an ATH is technically the strongest resistance.
How it reacts from here will indicate its next move.
If it pulls back to the rejection level and consolidates, that will be considered positive.
If it continues to retrace and breaks $115k, that will be considered negative.
$BTC #BTC # Bitcoini
BTC-1.91%
MOVE-4.74%
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GateUser-f595b0e5vip:
Keeping a close watch 🔍
Marking NASAQ Index's recent (July) high as a major resistance.
#NDX# #NASDAQ#
MAJOR-3.8%
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This is the SOL/ETH trend and its support zone.
Recently, I’ve been dragged into futile SOL/ETH performance comparisons. ETH supporters should cheer for ETH gains, but when some show arrogance and compare it with SOL, they need to look at the reality of the trend’s performance.
SOL/ETH is up by 5x, even though it has declined in the last few weeks. It is currently at a support zone. The lower boundary (green level) is deep, which means the uptrend is not broken.
$SOL $ETH #Crypto # Solana #Ethereum
SOL-0.6%
ETH-2.81%
IN-10.37%
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A person’s true nature is revealed only in an extreme emotional state, whether under tremendous sadness or great happiness.
Sadness exposes limitations, and happiness exposes ego.
+M
IN-10.37%
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BTC dominance touched a support line in December 2024 but didn’t break down.
It has now returned to that level. We’ll know more next week.
It looks weak and, if I had to take a side, I’d say it’s likely to break this time.
#BTC# #BTC# Dominance #Bitcoin#
BTC-1.91%
IN-10.37%
LL-0.21%
MORE-0.18%
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BTC dominance is under pressure, indicating a potential new low as it has returned to the support zone after a brief bounce.
#Bitcoin# $BTC #BTCdominance#
BTC-1.91%
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