Knowing how to spot and draw good support and resistance levels is important if you want to be a trader. Relying solely on fundamentals wouldn't do you much good. From the chart, you can see the different price levels bitcoin has hit. Bitcoin has risen significantly although the market is unpredictable, I dare say the bull run is not yet over.
Any pullback to a support level is an opportunity to buy the precious coin at a discount. When the price falls below these levels, it becomes an attractive buy opportunity. And that is exactly what is happening with bitcoin right now.