While BTC does another ranging price action, the ALTs are coming into play. BAL has a nice trend formation on the 8 hrly and now is at a strong resistance. I have 2 scenarios where the resistance is broken decisively or its consolidated underneath this resistance layer. Either way, looking at the MACRO structure, the following can be observed:
a) Wedge breakout confirmed ; b) Daily and 2Day indicators look like turning bullish ; c) The 8 hrly upward trend intact; d) Macro found support at the 0.5 fib level; e) Phoenix indicator in the bullish territory;
+ many more
DAILY CHART: Note the 10 and 20 EMA acting as support and the 50 currently resistance. Bullish 3 candle setup on the daily.
All the best, S.SAri
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Still stalking for an entry. 10/20 ema level now. We need to see a bullish candle or bullish candle combination here for a good entry. They way it pulled back looks too strong, unlikely we will get a nice setup.