The BTC cheat sheet

BTCUSD has a very high probability of hitting this Median Line (ML), the middle blue line, this will be the make or break area. Typically with ML analysis the price will initially fall thru the ML but will almost always return to it to retest, even if it bounces off the ML on the first touch watch for a retest, just look at the chart every time it crossed not only the ML but the other major trend lines in between, test, retest, find direction. if the retest fails and she breaks lower that will be very ugly and a very profitable short. If she can hold the ML, she has a good probability of heading back up to retest the upper parallel. This is the easiest way to follow the price action, just find the major pivots and stick a fork in them, look how well BTC has played off this pitchfork its almost unbelievable.

As you can see looking back, price will always retest a trend line at least once, be patient, no need to rush in the second it pushes through or bounces off a trend line. wait for the retest to jump in. If price fails to reach the ML or an Upper or Lower parallel, and you will know because it will try more than once, its a sign of a reversal.

Every crypto trader should have this on their long term chart to use for support and resistance levels, look at the last bounce and the bounce before that, both came right up to a trend and failed, very easy to follow once you have the pitchfork on the right pivots.

If you found this helpful hit the like button, if you have a comment or question feel free to ask, Happy trading