has seen some strong bullish
movement, contrary to most of the crypto market. That bullish
move alone would make it a decent bearish
trade on itself. Looking at the chart, we can clearly see that a bullish channel
has developed over the course of a few weeks. In the last H4 bar, the price seems to be reversing towards the channel support. This trade is based on that reversal.
On the chart I’ve marked two potential areas of support, S1 and S2. These areas are based on recent swing lows. Do your own due diligence.