Timeframe: 240M
Main Scenario: While only 3 of the top 100 cryptocurrencies are positive today against the Dollar, the ETC is included also losing -2.40%. On the other side, its behavior against the BTC is very positive in the last few hours, gaining 3% just today in a buying pressure that comes from yesterday and that became solid after crossing the Central Pivot Point: at this moment the price moves over the Pivot R1 in 2162 satoshis and still strong despite showing its indicators in the overbought area; the sellers are ready to press but this may not happen until the Pivot S2 resistance is reached, which is very close to the EMA-100, this will very likely be a strong joint resistance to avoid further increases. We could try for a short position if the price manages to touch the Pivot R2 even below at 2180 Satoshis where the price can bounce looking for a correction.
Alternative Scenario: It is the least likely and it could be that the price will continue to rise to go through EMA-100 and continue in the range very close to this point.
Entry/Stop Loss/ Take Profit: We can go short if the price reaches the 2180-2198 Satoshis.
T1 = 0.002143 (2.1 %)
T1 = 0.002091 (5.0 %)
The Stop Loss can be placed at 0.002212 (-1.0%)
Duration: 1-3 Days
Consolidation/Ratification level: If the price crosses the first target, you can drag the stop loss to the entry point.
Warning Level: A range behaviour during the next 24.H around the Pivot R1 will invalidate this setup,
Risk Management: Risk/Reward Ratio: 4.45
Main Scenario: While only 3 of the top 100 cryptocurrencies are positive today against the Dollar, the ETC is included also losing -2.40%. On the other side, its behavior against the BTC is very positive in the last few hours, gaining 3% just today in a buying pressure that comes from yesterday and that became solid after crossing the Central Pivot Point: at this moment the price moves over the Pivot R1 in 2162 satoshis and still strong despite showing its indicators in the overbought area; the sellers are ready to press but this may not happen until the Pivot S2 resistance is reached, which is very close to the EMA-100, this will very likely be a strong joint resistance to avoid further increases. We could try for a short position if the price manages to touch the Pivot R2 even below at 2180 Satoshis where the price can bounce looking for a correction.
Alternative Scenario: It is the least likely and it could be that the price will continue to rise to go through EMA-100 and continue in the range very close to this point.
Entry/Stop Loss/ Take Profit: We can go short if the price reaches the 2180-2198 Satoshis.
T1 = 0.002143 (2.1 %)
T1 = 0.002091 (5.0 %)
The Stop Loss can be placed at 0.002212 (-1.0%)
Duration: 1-3 Days
Consolidation/Ratification level: If the price crosses the first target, you can drag the stop loss to the entry point.
Warning Level: A range behaviour during the next 24.H around the Pivot R1 will invalidate this setup,
Risk Management: Risk/Reward Ratio: 4.45