Support zone instead of simple support (Bitcoin fake breakouts)

21 Jul 2021

Sometimes just a simple line is not working and this is the time that zone gets its meaning.

so instead of using so many lines, we can use <<Rectangle feature of trading view>> and create some support and resistance zones instead of simple support and resistance.

here take look at the Bitcoin example in previous weeks:

But let's take look at the 30K support zone instead of the 30K support:


and let's take look at Forex and the same scenario:
here take look at the USDCAD example in the previous month:

But let's take look at the 1.2060 support zone instead of the 1.2060 support:


<<👍hope you enjoy👍 >>

21 Jul 2021

Nota

Notice: As we talked about it in the previous analysis too, fake breakouts are strong reversal patterns like now that bitcoin is still pumping.