We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and demand zones, market structure, candlestick analysis etc. On crypto we are looking at the Daily and 1 Hour timeframes to take trades when they are ready.
On the weekly timeframe you can see that price is hitting support at the current area. Last week price formed a rejection candle o the lower level but sellers were in control for the whole week. We will look on the lower timeframe to see what structure is looking like.
On the H4 timeframe price is extremely bearish. We are at a level of support however and price is being squeeze following the fall off from 51,600. If we see a break of 0.48000 we will start to take long opportunities.
On the weekly timeframe you can see that price is hitting support at the current area. Last week price formed a rejection candle o the lower level but sellers were in control for the whole week. We will look on the lower timeframe to see what structure is looking like.
On the H4 timeframe price is extremely bearish. We are at a level of support however and price is being squeeze following the fall off from 51,600. If we see a break of 0.48000 we will start to take long opportunities.