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.
On the weekly timeframe price is dipping down to levels it has not been to in quite some time. It is a key level of support so we are expecting there to be some reversal from here. Last week did close extremely bearish so we will see if price has the momentum to just head to lower levels.
On the H4 timeframe we are currently very overextended to the downside so if we get a reversal here we will look for a retest of 0.68800 before looking for rejection to the downside. Option #2 is if price breaks that resistance level than we will look for a retest of support and go long.
On the weekly timeframe price is dipping down to levels it has not been to in quite some time. It is a key level of support so we are expecting there to be some reversal from here. Last week did close extremely bearish so we will see if price has the momentum to just head to lower levels.
On the H4 timeframe we are currently very overextended to the downside so if we get a reversal here we will look for a retest of 0.68800 before looking for rejection to the downside. Option #2 is if price breaks that resistance level than we will look for a retest of support and go long.