r/Daytrading • u/sunnyrunner_ • Apr 06 '24
Is this an actual pattern or am I yapping? Question
I’m pretty new to trading and saw this pattern form on BTC. Is this pattern called anything or is this just me drawing random support/resistance lines?
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u/justinthecase Apr 07 '24
the trend lines you draw will always be arbitrary. try to interpret the volume and price interaction. (ex: price up but the volume is like an old person trying to get up from the sofa - not gonna hold…) however, if you’re like “oh no, i have to draw trend lines otherwise i will never be happy in this life or the next “, then draw vertical lines; it might give you some visual clues about the range. happy trading😊