Revisiting Historical Resistance Levels

2 feb 2018

I'm just gonna point out some previous resistance levels from the climb up to the ATH that are now serving as resistance on the way down. Levels #1, #2 and #3 provided some resistance on the way up while Levels #4 and #5 did so as well but were merely bumps in the road. On the trend down we've revisited the #5 and #4 levels and seem to have a clear path, meaning no historical support/resistance, all the way to Level 3 at $8142. The next levels are #2 and #1 at $7385 and $5908. I'm still a noob so hesitated to share, but something I've been told over and over is playing out, which is that previous resistance can later become support. Zooming way out and taking in the big picture, this seems to be true.
Happy trading.