i think you misunderstoo GavHero's question, and I have the same question... he's saying why did you start your green trendline at 8500 instead of 6000.
we understand why you chose 9300 to connect to, but you started your first point at 8500.... why did you start it there vs 6000 ?
like GavHero, just trying to learn more.
barbosa89
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@Crypto2030, I see, I updated my idea with more details. I am sure this will answer your answers question.
clink on the chart below to check it out.
thanks and happy trading :)
GavHero
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Just curious, why did you not begin the lowest point of the diagonal at the early Feb low ($6,000)? There are 6 "lows" since then so why this one? Not saying wrong or right. Just trying to learn more. Thanks for your TA
barbosa89
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@GavHero, no worries, I chose the 9,300 low because it's our next support line that held. Also, when using our fib retracement tool, from the 11,700 high to the 6,000, we see that 9,300 bounce off of the 0.382 fib line (went a tad bit under but not by much) which is rather bullish. hope that answered your question
so the lows I am using are 9,300 and the next one is 10,150 to create the bottom line of support of the ascending triangle.
we understand why you chose 9300 to connect to, but you started your first point at 8500.... why did you start it there vs 6000 ?
like GavHero, just trying to learn more.