drawing some lines (any feedback on my first price analysis?)

@esna7

According to my chart this is a critical price where we might see sudden volatility in either direction (lower price band on lines). It could hit up to $700 very quickly or else crash just as suddenly if the pump doesn't materialize.

Trading is really a bet on somewhat orderly volatility, which is why I think monero is the best coin for trading.

What's a "good entry price" now ? A friend is asking.

I myself still have till the start of next month to get my paycheck.

@H1XMR
My plan is to wait for a big crash and a dramatic reduction in volatility for at least a few months. That would be a much lower risk entry than buying now. I'm not sure what price that would be; I guess somewhere in the $200-300 range but it could be much higher.

@H1XMR If you want to trade you can try arbiter.xyz from cakewallet

With this code you get a Fee reduction:
https://arbiter.xyz/r/BIRKE

ofc. I will earn a comission, but I genuinely use the app and maybe you have more luck than me making a profit, lol

xmr is near the low. 510$ where I will buy again

@esna7 The more someone loses, the more the exchange earns from their losses and I suppose the more commission you get paid?
Its worth considering this incentive structure given that you're saying to buy in at a historically very high price.
You're probably not trying to scam anyone, I know that, but I'm just pointing out the risk here.

@esna7

want to trade

Fuck no.

@esna7 For the support and resistance lines they are too squeezed together. It makes the chart harder to read.

I’d start by identifying the more obvious swing highs and swing lows rather than trying to mark every small reaction. Then use those areas to establish your main horizontal levels.

Also, I wouldn’t treat support and resistance as exact prices. Price often reacts within a range, so a zone can make more sense than a thin line. For example, if price repeatedly reacts around $340–$350, that can be one resistance zone rather than several separate lines at $342, $345, $347, etc.

For the rising channel, use the more significant lows to establish the lower trendline, then a parallel line through the corresponding highs. You don't need the lines to touch every wick.

Basically:

• Major swing highs → resistance
• Major swing lows → support
• Repeated reactions around the same area → consider it a zone
• Rising sequence of lows → lower channel line
• Parallel line through the major highs → upper channel line

Then zoom out and see whether the structure still makes sense. If there are so many lines that it's difficult to see the actual price structure, you've probably marked too many levels.

For a first analysis, though, you're looking in the right direction. The important thing is learning to distinguish the larger structure from the smaller ones.

• @yayogerardo, writer, researcher, analyst, anarchist, autonomist, Humanoid 🃏™️

I'm laughing at the charts I see here. Seriously guys.

Just study first.

I already did all the hard work and found one guy who leaves it plainly and simple and speaks on what really matters.

He has a bunch of tutorials:

https://www.youtube.com/@tradingwithrayner/playlists

One of the best instructors out there.

@H1XMR I can give you what you're looking for, for [a price] (https://beblurt.com/crypto/@yayogerardo/independent-crypto-market-analysis-1788757954719)
I'll make it easy for you. First basic analysis is free and I'll make it public. Just let me know what you need.

Edit: the forum is not registering correctly the link so you'll have to copy and paste it.

@yayogerardo
I'm not convinced in the slightest that you know what you're talking about. You've somehow managed to overcomplicate drawing a straight line that really don't mean much apart from to measure the price relative to a trend. They won't help you to see how long the trend will last or what will happen when it breaks.

You said 'Just study first'
And the man you think I should study makes this claim on the top of his website:

Discover how you can consistently beat the markets and earn an extra 10%, 20%, or even 40% a year—without studying chart patterns, analyzing financial reports, or following the news.

This is a major red flag and unrealistic expectation. The belief that traders can earn a consistent income is something which sets traders up to fail.
And its plain to see that his entire corpos of content only exists to sell a fantasy to naive young men; it follows the same emotional narrative of a pick up artist's origin story. You can tell its bullshit when its all about a personal narrative and nothing about understanding what actually drives the supply and demand for a given asset.
Not worth my fucking time.

So please, if you are so good at trading then just rinse the markets and get minted without trying to sell advice.
The trading education paradigm is a lie invented by retail exchanges, sold by grifters and enshrined in law to rinse traders by teaching them to reliably lose. That's the first lesson ever trader should start with.