From the bottom, a supply has formed with four major bounces from it. Currently, it seems like a period off consolidation from mid-April and getting closer to the supply line. Given the news that Simon Lehmann bought Trips recently, with anticipation that others will follow (and of course being in a period of trends across the entire Crypto field), I’d expect the price to be maintained above the supply line with a strong bounce off it in the coming days/weeks.
A dotted orange line shows the previous Dec .20 ATH that could act as resistance, but if the price breaks above this, we could see prices going very . So keep an eye on this line and the supply line as critical points of price action.
A recent high end of March acted as support as illustrated by the dashed yellow line. If you were to enter now with this as your stop-loss position and Dec ’20 ATH as your take-profit, the risk to reward ratio would be 3:1 - not a bad trade at all.
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