Welcome to the Support & Resistance Challenge - Round 3
**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 24 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, what was the last MA support line that the market broke below?
2.
In the pic, what would be the next lowest support line for price to retest?
3.
In the pic, since price broke below the 200 MA line, what would the 200 MA line become next?
4.
In the pic, what is the next highest MA line market price would retest first?
5.
BONUS: In the pic, what price would be a good prebuy strategy to place an order in the falling market price action?
From the info in the key notes, choose the (BEST) answer to the question above...
KEY NOTES:
- The pink price line is at $48390 and considered resistance
- The yellow price line is at $47393 and considered support
- NOTE: Old support becomes new resistance & Old resistance becomes new support!!!
- The current candlestick seen at the end is (in progress) not completed
- 10 MA = (green) at $47665
- 50 MA = (teal) at $47634
- 100 MA = (blue) at $46498
- 200 MA = (purple) at $46197
