Sniper’s foster here. Hope you guys are all having a great day
today I would like to talk to you guys about support and resistance and
As you can see in the background. I’m in this court our
knowledge base
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This is our discord page in this case. I’m in the trading 101 channel where we have all of these patterns to our patterns
That people can use in training that we use in training and
These already show these blue lines alright. We’re talking about support right here and resistance
We’re talking about support or resistance
Here we got support
Make up resistance
So I like the type I’d like to take you guys to work or energy in this case to the vibe chart
This is a two hour chart of 5 and
What we see here by the way is seems to be there is a nice cup forming
There’s a slightly miss shaped handle where the dip is the handle and river breakout
Or there was a short handle with already a break outs
However to talk about support and resistance level, I would like to show you guys the volume on these charts
This is the depth chart the market depth
And what you see here, is these are sell orders?
The lower right and this is a graph that shows how much
how many people or what actually it’s not so much how many people like what the volume is of the selling and
Core energy in this case shows a certain
selection of this map, but if you look at finance
This is a same chart to our five BTC. We go through the depth
And you can see we see a slightly different picture
This will actually go all the way back to 9500 Satoshi. You can probably see my deform, or as you can see?
And of course you can zoom in
so one more time the
Green is the butt art of buying orders, and they are all set by setting by limits
That are activated
Once it reaches a certain price and of course people want to buy
You know lower people are not by the discount and let’s buy at the top
That’s why the price will go down and here the price will go up because everybody wants to make a buck so
There’s gonna be more voice and people want to sell higher as you can see here around eleven thousand Satoshi
There’s gonna be you know a lot of sellers. Just like here at
Ten thousand sound unless there’s a lot of buying going up
So if you turn this chair basically sideways, there’s what support is on the left and resistors on the right
By the way this gap in the middle is the difference between
All the buy orders and the sell orders
And this is where the market price is set what you see here
And in this right column is where you can basically buy at market price, so these people all buy a market price
They are not due set seller buy orders
That’s by the way a nice trick from or trick a nice function
Functionality of Finance
is that you can basically buy a market price and
the nice thing is especially if you have like a
small fraction of a Satoshi open of an ether a light coin you can easily buy
You know maybe a couple of hundred more prawns or verges
And sometimes or usually actually there’s a limit. I’m not going to go in detail on this video, but when you set a
then you need to do a minimum amount and
Market pricing be just the smallest rection, so you can’t write so that’s a little tip
Let’s go back
point G and
so what we see here invite we have of course green candles buyers going up and red going down and
Prices for instance here do not go higher than this level
it’s trying to go higher as you can see from this week, but then I was pushed back so this area here I
Mean I said
Make a little an ellipse here
Right that area there that
Is already resistance
So this is a resistance level
There’s people there’s more and more people selling here keeping the price there
So basically the red wall you saw is pretty high up here
I can probably show you guys when I go to the let’s go to the 15 minutes
Okay, so what we see here
That there seems to be
resistance at
11,000 and
Let’s see let’s confirm this on the chart and a level thousand level is right here
So by the way if you select here you press hold H. You immediately set a line over the entire chart and
As you can see this line this business line matches
This selling it bounces off here you have these wicks bouncing off then it’s I think we see what we have here is
a breakthrough
Also on this level that level we just set basically always zoomed in like
So over here
Let’s go back to this
Chart to find out as you can see here. What would it be?
For this one. I really have to go to finance
As you can see it well the ten thousand is a lot of buying
and there’s a lot of buying at ten thousand one hundred and ten thousand two hundred so all those steps and
those levels are all here I
Should sue my little mark right
10,000 and here’s a 10100
right here and
there you have the
Ten thousand two hundred seems to be here
That is how this works so?
there’s all these buying rolls here, and there’s only selling walls there and
If there is just enough pressure from either it can break through
So I would like to take you guys to another coin, let’s do
Let’s see if we can draw some
Support lines because basically and realize that’s what this is all about and
Like I said, I like to you know I like to go at least to the thirty minutes preferably into our chart whoops
There we go, okay, so what we have here is
Let’s say let’s take the bottom of this week so
This looks like to be like this a
Pennant right and
How did I draw this line well we have here basically proof and support points that actually go up
So this would be an ascending line, maybe when we draw this line it might even end up
Right here at this level I
Think that’s a little too opportunity to nastic, so let’s just keep it here
So this is the Penance right and here we have resistance right price ones go up
It doesn’t go up anymore, and it’s tries to go through and it doesn’t you see these wicks and here again
So we have here lower highs and we have here higher lows and these foreign pennants and a penance well
Supposed to break out and what you see here
Is the break out there? We go? There’s your break out?
So you can go on and say well
It looks like as if here
There’s a there seems to be if you look to the left here
There’s resistance there. There’s resistance all of these areas
we could take these wicks just
To take an average and it’s lines up here with the top, so let’s do that
So this will be a new support resistance line and
What happens if you do that
You can see these this rising these rising
Areas here right so this point went up from this point
When probably even up from this point so if you draw just a line from this area right here
There we go
So because this support will go up and here we have a resistance line that
We’ve identified by these tops and by the history in the past is not just an accidental. It’s not just a coincidence or an accident
currently, right
So what we have here is an ascending triangle
And what happens there well
We have a breakout again right there
So this is where you break up
And so if you apply these
support levels and these resistance levels
And you look at the big picture and you can set the big support lines resistance lines and around there you can start
Making your your
Trades in this case you can say hey, there’s an ascending triangle most likely you might break out. Let’s set a buy order
Let’s set a sell order on 35 percent 50 percent and our 25 percent
And maybe a stop loss if it doesn’t go through
What we see here well, here’s the top is this an all-time high looks like it so yeah
I could choose the the top of the wick or I can choose these and doesn’t really matter
I can choose this
So this is the highest price ever achieved so far almost
Sixty four and a half a little bit more sixty four and a half thousand
And if you zoom in of coral it’ll but if you have these lines well, I can set another one maybe here
Although this is it’s kind of difficult, so this is a difficult one
Let’s go to the 15-minute chart
What what we see here we have even though these are all-time highs this seems to be a support line right here that
Doesn’t draw oh there we go
It seems to be support with support here. We have support here and
what we can do is we can say well, let’s
See how this goes
So we might be looking at another ascending triangle just
Like these stops seem to be going up
although they they bounce off here of this line so
This is another way, let’s watch another way, but this is an
You can draw these lines to drown I mean another sending triangle
And of course to make a reference to one of my other videos by the Fibonacci
If we apply if you may not see levels, I gotta make this one a little smaller here
Obviously we see that there’s a break down here break out here
Okay, so let’s say that this will be the lowest point here right this one and we
Go all the way up through this area right here
By there okay
Okay, so now Fibonacci
as you as I’ve explained you guys we can extend the lines like this and
What you see here? Is that this is a prediction of future?
support and resistance lines
it doesn’t always come through but in this case you can see this support line we we bounce off here is basically exactly the
38.2 and
What we see here is that there is actually bouncing off of the 60 1.8 level
And as you can see here
These weeks actually bounce off of the 60 1.8
so this is
once again one of those things if you
Want to learn from where either an ascending line or a descending line?
trend sorry and you
project those lines into the future you have an estimate of
support resistance lines
So yeah there we go I
Like to keep it keep this video short. I can’t even though I know I keep talking yeah
I hope you guys thought this was useful especially for those who are starting to trade?
Always make sure you know
Where support and resistance is?
So from that base, you can start recognizing patterns, and you’re going to be more accurate in predicting
that what’s going to happen, and if you just keep practicing this and
You realize that hey, what what I’ve predicted here actually comes true
And this was actually I made my first video was about that is to
try these
Patterns and then save them and look back if you were right
Because if you’re right then you can do the next step, and that’s basically set your buy sell and stop-loss
So you can actually start making some money?
Well, I hope you guys appreciated the movie
I hope the audio is a little better than last time
I heard some comments on that, but I only have a webcam with a building microphone so far
I hope you guys think is useful and see you guys next time