I will be making a very big effort to really keep my post consistent.
Price is currently at a KEY weekly level which time and time has been respected. To add this level was the level right before we broke down on the 4hrly.
My thought process is that I am seeing a false break above resistance to follow with a double top. The bulls are not strong enough to continue to hold and then sold off. For me the price is about to retest before heading lower.
Entry region around the even 1.0650
Stops are above this False breakout which is seen quite often. A break above there would be a trade invalidator.
My target is on the 4hr candle body resistance now support. There is a possibility we go to 75 cents. BTC did something similar last time where there was a break out of what we thought was the range and participants got very excited for us to then break back down below. I think markets are not yet there and ready to really sell-off. We will have to wait and see. There are many confluences that suggest we go lower but with the crypto market in this uptrend, the bulls have their way for a short time but sweet time. I will have a. Break down of all the levels on different time frames in the updates of this post. For now, there will be my entry criteria and I will update if I do decide to enter earlier than expected.
These are my opinions.
Not really for other people.
If you think it is helpful do not hesitate.
If you think it is not tell me why.
Don't be a negative nancy adding little value.
Rump
Price is currently at a KEY weekly level which time and time has been respected. To add this level was the level right before we broke down on the 4hrly.
My thought process is that I am seeing a false break above resistance to follow with a double top. The bulls are not strong enough to continue to hold and then sold off. For me the price is about to retest before heading lower.
Entry region around the even 1.0650
Stops are above this False breakout which is seen quite often. A break above there would be a trade invalidator.
My target is on the 4hr candle body resistance now support. There is a possibility we go to 75 cents. BTC did something similar last time where there was a break out of what we thought was the range and participants got very excited for us to then break back down below. I think markets are not yet there and ready to really sell-off. We will have to wait and see. There are many confluences that suggest we go lower but with the crypto market in this uptrend, the bulls have their way for a short time but sweet time. I will have a. Break down of all the levels on different time frames in the updates of this post. For now, there will be my entry criteria and I will update if I do decide to enter earlier than expected.
These are my opinions.
Not really for other people.
If you think it is helpful do not hesitate.
If you think it is not tell me why.
Don't be a negative nancy adding little value.
Rump
Comment:
4hr
4hr
Comment:
I do not think we will see 56 cents again but I can see 75 cents being possible if we do not see a continued recovery from here.
Position yourself for either direction
Position yourself for either direction
Comment:
I have Been stopped out at B/E.
Trade closed manually
1hr show where previously key levels were in the past