Here are the key Support and Resistance area, from 4-hour time frame down to the 5-minute time frame. This post serves as my trading journal and not a financial advice.
Strongest Resistance
The $3,440 - $3,450 in 4-hour and 1-hour is the strongest resistance and the most critical area. It almost in an all time high. Breaking this zone in 4 hour time frame with strong volume, signaling a continuation of the strong uptrend. Else, it leads to a deeper pullback down to the support area.
Strongest Support
And if the trend reverses it leads to a deeper pullback to the immediate/psysological support at $3,400 (4-hour, 1-hour) or down to the strongest support area $3,360 - $3,380 (4-hour, 1-hour). This areas are significant in the previous consolidation and resistance on both the 4-hour TF and 1-hour TF charts.
If a pullback occurs, this area is likely to attract buyers looking to re-enter the uptrend. A break below this level would be a more bearish sign, suggesting a deeper correction.
Other Confluence to Support
The Fibonacci Retracement has been plotted from a swing low around $3,293.548 (100%) to a swing high around $3,446.573 (0%).
As discussed in the previous analysis, the 38.2% and 50% Fibonacci retracement levels (drawn from $3,280 to $3,440) also fall within or very close to this $3,360 - $3,380 range.
0% Level: $3,446.573 (The recent high of the impulse wave) 0.382 (38.2%) Level: $3,388.117 0.5 (50%) Level: $3,370.061 0.618 (61.8%) Level: $3,352.004 0.786 (78.6%) Level: $3,326.296 1 (100%) Level: $3,293.548 (The start of the impulse wave)
Gann Box
The "Strongest Support" Area Highlighted: You've explicitly labeled a green box around the $3,360 - $3,380 region as "Strongest Support." This area aligns precisely with:
Prior Resistance Turned Support: This was a significant resistance level that price broke above. The main horizontal line within your Gann Box is at the 0.5 level, which falls squarely within this "Strongest Support" zone.
