Welcome to the Support & Resistance Challenge - Round 2
**Please read all of the notes below as I have put a few updated items here**
This week, a daily challenge to learn support and resistance on market charts will be posted. It will consist of using MA (moving average) lines and trend lines.
There will be a total of 5 rounds starting on 9/14/21 8:00pm EST and will run thru 9/19/21. You will have 23 hours to submit your entry each day. The 24 hour clock starts at 8pm EST or 8am PHT each day and ends at 7:59pm EST or 7:59am PHT. Each round has 5 questions. Each normal question is worth 10 points each and question marked (BONUS:) are worth 20 points each.
NOTE: You can retake the quiz as often as you like until you get a perfect 60 points on your score. This option will only run thru 9/17 (USA) ~9/18 (PH). On the last challenge day, you will only be allowed to submit your quiz answers 1 time and there will be a prediction question that will be the tie breaker question for everyone.
Your overall points scored will get your leaderboard ranking among all participants.
The prizes for this overall 5 day challenge are:
- 1st place - 100k sats
- 2nd place - 75k sats
- All others - 50k sats
NOTE 1: Prizes will be paid equivalent to sats using either DGB or XLM which you can trade for BTC or USDT at your own choice.
NOTE 2: You must have challenge submissions for all rounds to qualify for any prizes awarded listed above. If you miss any rounds, you will be paid 20 FLR tokens for partially participating.
Go For It...
NOTE: READ THE KEY NOTES on every question!!! This will be the only hints given. Use the pics and links in any of the questions to help you select the correct answer.
IMPORTANT: If you need to see a chart pic larger, you can zoom the page on your phone to get a better view. The webpage pics are just too small for many to see. If you do click an image, it will open in a new tab/window. Simply close that tab when done and tap the tab you had the quiz in to resume.
Best of learning to you all & most of all, have fun!!! 🙂
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1.
In the pic, the 10 MA line is currently acting as market...
2.
In the pic, the 10 MA is the nearest support target to the last candlestick.
3.
In the pic, what is the next MA line for price candlesticks to retest higher?
4.
In the pic, before the market breakdown what was the lowest possible support level shown based on all MA lines?
5.
BONUS: In the pic, what is the current price range that the market is showing based on the pink price line and lowest MA line seen?
KEY NOTES:
- In all markets, we use a top price as resistance and a lowest price level as support
- The gap between the top and bottom price is a price range in a given period
- Price action retests between the top and bottom price ranges until a breakout or breakdown happens
- The pink line represents a price level at $48305
- The pink price line is the most recent level that the market closed at its highest point
- 10 MA (green) = $47923
- 50 MA (teal ) = $46585
- 100 MA (blue) = $45931
- 200 MA (purple) = $46057