at the moment price closed below very important support area (28800). however I expect
price hover over around this level before making a bigger move up or down.
yes both side still on the table and the key area on the chart need to watch closely.
so based on my first scenario the area can hold price and move it above the 28800 level to keep it's bull trend.
for this scenario it is important price close above our key level 28800$.
in second scenario if the price could breach and close into the big channel on my chart we
can expect more downward pressure will resume.
at this case the blue area into the channel (daily order block) as strong demand zone, would be our main support level.
in both case I'm still bullish on crypto market so I consider it as a correction move yet.
Enjoy the market
price hover over around this level before making a bigger move up or down.
yes both side still on the table and the key area on the chart need to watch closely.
so based on my first scenario the area can hold price and move it above the 28800 level to keep it's bull trend.
for this scenario it is important price close above our key level 28800$.
in second scenario if the price could breach and close into the big channel on my chart we
can expect more downward pressure will resume.
at this case the blue area into the channel (daily order block) as strong demand zone, would be our main support level.
in both case I'm still bullish on crypto market so I consider it as a correction move yet.
Enjoy the market
Trade active:
so the second scenario now is more possible, it doesn't mean from here price can not go higher but for pull back we need to see price close above 200MA again. I put important levels on my chart, lets see how it works
Comment:
possible scenario in shorter time frame
Trade active:
price declined after testing liquidity level and now touched our key area again.
so if this level (28K) doesn't hold the main scenario I mentioned ( drop to 25K) has strong chance to happen. so right now this level is critical level. lets see
so if this level (28K) doesn't hold the main scenario I mentioned ( drop to 25K) has strong chance to happen. so right now this level is critical level. lets see
Comment:
1H chart update:
price is trapped between 2 gray zone (ranged limit). below the baseline on top at liquidity zone is bearish the critical support area below the ranged limit need to hold price otherwise a deeper drop expected.
price is trapped between 2 gray zone (ranged limit). below the baseline on top at liquidity zone is bearish the critical support area below the ranged limit need to hold price otherwise a deeper drop expected.
Comment:
our critical support area broke downward, so more drop expected now and the blue area as demand zone between 26K and 25K is main target if price keep declining. lets see
