One of those non-senses is: "Buy support doesn't matter". Yeah, right.
Since you know so much, why don't you tell us what makes buy support important? Because it is important, but I doubt that you know why
Oh, you are so arrogant. You must have already read the basics, haven't you?
http://www.investopedia.com/university/technical/techanalysis4.asp
lol you quote investopedia? Have you actually made money from that stuff? Of course not....... no one does.
Support and resistance isn't even measured by looking at the chart
Buy support does not "support" the price and stop it from falling. Buy support "supports" traders who bought weeks or days before who are looking to cash out their profits
You only see high buy support when accumulation has finished and people are now distributing
Where do you think these coins are being distributed to? BUY ORDERS
What happens when everyone starts to use buy orders to exit? The price CRASHES
See how the whole "do the opposite" thing works now?
So yeah, buy support matters but if I am buying a coin, I would like for there to be no meaningful support because that means the only way for other people to get into the coin is to buy the sell orders (which pushes the price higher)
basic stuff really