Bitcoin (Gann Fan) Tutorial Basics

5 Feb

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Gann fans are a form of technical analysis based on the idea that the market is geometric and cyclical in nature. A Gann fan consists of a series of lines called Gann angles. These angles are superimposed over a price chart to show potential support and resistance levels.

🌀 The Gann Fan was developed by W.D. Gann.
🌀The Gann Fan is a series of angled lines. The user selects the starting point and the lines extend out into the future.
🌀Gann believed the 45-degree angle to be most important, but the Gann Fan also draws angles at 82.5, 75, 71.25, 63.75, 26.25, 18.75, 15, and 7.5 degrees.
🌀The Fan is started at a low or high point. The resulting lines show areas of potential future support and resistance.

The Difference Between a Gann Fan and Trendlines
The Gann Fan is a series of lines drawn at specific angles. The 45-degree line should extend out 45-degrees from the starting point. A hand-drawn trendline connects a swing low to a swing low, or a swing high to swing high, and then extends out the right. The trendline is matched to recent price action and is not drawn at a specific angle.

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