Diving into the H2 chart I wanted to take note of very obvious levels I think we need to pay attention to as they will provide direction of PA once crossed and closed upon. To me it looks as if we are in some sort of triangle as matches too passing checks. All that is missing is a break down for confirmation. As PA continues to draw less and less of a reaction from support I am in favor of more downward action over the next few days. the H10 is found in the blue dotted line and a close of an H10+ candle would pose as some inclination of direction in general. To me there is very obvious valid and invalidation levels as gives us rules to follow.
To me we are ranging in one large triangle and we are yet to see the end. In the short term I am but med term I can see one more attempt at the upper before an ultimate crash to new lows for the year. With the stock markets on the brink of destruction one is to speculate if the crash is to happen does crypto become the new safety net. I am one to bet against that as investors will not flock to something so unregulated and volatile. I will be happy to be wrong here as FA continues to grow bullishly it is hard to want to bet against that.
“History provides a crucial insight regarding market crises: they are inevitable, painful and ultimately surmountable.”
Shelby M.C. Davis
What the bulls have is this simple set up.
WE broke up above 202. invalidated the smaller triangle