Ada | Cardano Heatmap based on Price, Support and resistance

2021년 11월 7일

First of all, you can find the areas used in the analysis chart by looking at the chart below.


My thought for the current situation is that it enters the green area and tries to create a support area for itself there. (3 Candle rule) .

The green circle can be considered as the necessary safe zone for the trend.

The green ring below the green circle is the last support zone for the Trend. A breakout of this zone may suggest that the trend is over.

Gann Boxes and Big green circles are designed in a way that I think will work as a trend timeframe.
As long as these circles placed in the Fibonacci channel are in harmony with the Fibonacci levels, there is no problem.

If prices fail to enter that green circle and the yellow and green waves break respectively, the orange fibonacci ring will act as support.
If the trend continues up as we predicted, this time these yellow and green rings will work as resistance.

Crossing the rectangular yellow area, i.e. going beyond the radius of the green circle, will confirm the trend even if prices haven't risen much.


Note: This is not investment advice.