After a 25% drop, in line with the current market, we could see a further continuation to the upside. I'm expecting a touch of the first support zone. If we then put a stop loss below the second support zone a rally towards the most recent high will give us a nice 3.5 R:R
A strong move could take us to the next resistance at 3840 sats (dating from 04/2018)
Yes agreed or maybe retest lowest support area (2050 2150) first and bounce from there
Coinathlon
⋅
@RuDa01, my setup had almost been invalidated. If we can indeed hold 2050 this play still works
RuDa01
⋅
@Coinathlon, yes we did indeed bounce of the lower support area. Just not with enough momentum to really take off. Off course btc made a swing up which takes away a lot of attention of the alts... gonna watch this closely... good luck!
Coinathlon
⋅
@RuDa01, Definitely right. I hope the structure on the altcoin marketcap is correct and we will see some power flowing to the alts.