Not too much info needed here: we're heading towards a squeeze that will decide about three key resistance levels:
- on the shorter timeframe we have .887 retracement at around 1497 sats
- on the longer timeframe we have .887 retracement at around 1485 sats
- and of course, we have 100% retracement at around 1432
These are the levels to watch in the next few days. If we fall through 1485 the drop down might be significant so be alert. As was to be expected, this is all very closely related to what is happening with BTC, so a close eye on BTCUSD is required as well.
I will be monitoring the price action closely, but as I've been saying for a while now, since volume is so low, and with everybody just playing the waiting game and waiting for others to make a big move, I'm betting on a short position.
- on the shorter timeframe we have .887 retracement at around 1497 sats
- on the longer timeframe we have .887 retracement at around 1485 sats
- and of course, we have 100% retracement at around 1432
These are the levels to watch in the next few days. If we fall through 1485 the drop down might be significant so be alert. As was to be expected, this is all very closely related to what is happening with BTC, so a close eye on BTCUSD is required as well.
I will be monitoring the price action closely, but as I've been saying for a while now, since volume is so low, and with everybody just playing the waiting game and waiting for others to make a big move, I'm betting on a short position.
Comment:
We just saw a low volume breakout that was rejected by the 2H 200EMA. Still putting in lower lows at the moment.
Comment:
Squeeze prolonged. Broke out but still putting in lower highs. This means more indecision, as everyone is just waiting for Bitcoin to show some decisive action up or down.