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.
Weekly: We can see that last week continued it’s move to the downside and we are now at the weekly support level near 1.3400. Last week closed with a spinning top candle which is definitely a reversal candle that we need to be aware of
H4: We have two trade scenarios here. Either price is going to move from the upside to the downside to continue the current trend Or we are going to see a reversal of the entire trend. If price respects the 38.2% fib level that is at 1.34500 then we will see a push to the downside. If it breaks this level we should anticipate more buyers to step into the market.
Weekly: We can see that last week continued it’s move to the downside and we are now at the weekly support level near 1.3400. Last week closed with a spinning top candle which is definitely a reversal candle that we need to be aware of
H4: We have two trade scenarios here. Either price is going to move from the upside to the downside to continue the current trend Or we are going to see a reversal of the entire trend. If price respects the 38.2% fib level that is at 1.34500 then we will see a push to the downside. If it breaks this level we should anticipate more buyers to step into the market.