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HAPPY NEW YEAR! and don't be disappointed for massive drops and/or excited excited for small gains recently!
But be prepaired for more rollercoaster up and downs.

We have seen below three strong support/resistance levels in 2018 and even 2017.

So these lecels should be watched carefully from now on:

$6200

this level was the main support for months, till it broke and the new downtrend started strongly. so in case of a reversal any time in 2019, this level will show a significant resistance.

If I buy at current levels, or lower, I will consider this level a safe place to cash out my profit and wait for a correction to buy back in.

$3750

This is where we are right now. above this level and anytime soon to retest it. it's a pivot point for our current weekly chart.

I rather watch this level for considering next up or down trend and don't take a serious position before a solid higher or lower to this level price.

$3150

if the current pivot breaks down, we can expect a retest to this level (honestly, I do expect that)

I have never seen a V pattern on testing a support level. I prefer to see a W or VVV :D
well I made them up! there are no such terms, but I mean a chart will test a level (support or resistance) more than once.

please comment your valuable knowledge
Thanks for your time and happy new year again.

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hunny100dev (44) 6 years ago (edited)

@honarparvar, it has been a roller coaster ride in 2018 indeed, I think it will go below $3000 & then we can see some moves & hope it breaks $6200 resistance with high volume.

$0.00

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