These are the 3 options I personally see playing out in the coming day or two. So long as papa bitcoin doesn't make any crazy moves we should continue along one of these three paths pretty smoothly. Thanks for checking out the chart! Drop me a like if you found it interesting and don't forget to follow to keep up with my ideas.
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Sorry for the empty 'text' above the green line. Those lines are just to visualize what the tightening range would look like.
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Looks like we're in option 2 or 3 now. Watch for trend-changes on smaller time-frames to form another higher low. I'd have a stop set under $2.91 to be safe in case we come down and immediately break our previous higher low.
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My stop hasn't been triggered yet but we have technically broken the higher low by $.002 cents. Close enough to be considered a double bottom? Not sure. LINKUSDT on Binance broke the same support more significantly so I'm taking that as a signs its no.
I'm personally going to be leaving my stop just under $2.91 and see how this bounce plays out from the 15min being oversold. If we topple over around $2.96-.98 I'll sell and wait for it to change some bigger trends before re-entering on anything.
I'm personally going to be leaving my stop just under $2.91 and see how this bounce plays out from the 15min being oversold. If we topple over around $2.96-.98 I'll sell and wait for it to change some bigger trends before re-entering on anything.
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Pretty clean falling wedge on the 4hr time frame if we ignore the abrupt breakdown that we had with BTC's influence.
I'm pretty uncertain as to where we are trying to go right now with the break of our Higher low but a falling wedge to counter that. For a bullish case I'll be watching for a break of $3.00 and $3.05. If we break those with some volume behind it we should at least see a re-test of $3.12-.16.
For the bearish version if we break the bottom of this Falling wedge I believe we will test $2.80 again. If that breaks we could head all the way down to $2.50-.55 in the coming week or so.
I'm pretty uncertain as to where we are trying to go right now with the break of our Higher low but a falling wedge to counter that. For a bullish case I'll be watching for a break of $3.00 and $3.05. If we break those with some volume behind it we should at least see a re-test of $3.12-.16.
For the bearish version if we break the bottom of this Falling wedge I believe we will test $2.80 again. If that breaks we could head all the way down to $2.50-.55 in the coming week or so.
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Looks like the price is flirting with our falling wedges upper trend line. We double-bottomed at $2.87 and broke a small $2.967 resistance. I'm now watching for a break of $2.97 with some decent volume.