Past 5 days have presented bullish price action with a potential HL printed inside the wedge. Price currently pressing up against wedge resistance trend line.
With overall market showing signs of going higher, a breakout here is likely imminent.
That area just above 1.70 presents a confluence of resistance that makes it a significant and key breakout level.
One can wait for a breakout and re-test setup to maximize RR to one's favor.
I'm personally actively looking to enter a smaller position to maybe front run the breakout which is looking quite imminent.
My 4HR levels:
Long term up-trend on the weekly and monthly charts
Due to break out of a 4 month breakout
Volume coming in to push the price higher
Look for buying opportunities around the 157.30 to 157.80 area.
Wait for a break and hold above $160.14
QS has been in a downtrend for quite some time now but is forming a massive falling wedge (bullish). QS has strong resistance at the $32.74 level as well as the $39.27 mark. Bollinger bands are also squeezing and buyer volume is starting to pick back up as we've been seeing a general rotation back into growth stocks in the market. Will be looking for QS to break...
Very simple chart to show a market premise...
Needs a daily close and some form of follow through. I'm wary of false breaks at this point due to BTC potential volatility into the weekend.
Be careful out there.
Market's been trading in this descending channel since January and right now in a bull leg putting pressure against the resistance trend line.
If we are to see more USD strength (the dollar has been on a tear lately), then this could be a nice breakout setup.
Watching that 1.26 level like a hawk...
If bears fail to break current levels 24.80 - 25.40, I think we could see a rally to test 28.30 which I think is a key level to breaking out to new highs.
I'm trying to enter in early in anticipation of that breakout which is a bit risky. Again no guarantees as I think market may continue sideways within current trading range but I think the buying pressure is...
ETH has been a test of patience lately and has been in this sideways price action since 08-MAR. We did see a test of key level (1,930) but nothing came out of it but more sideways. However, something tells me we may be about to see another test of 1,930 soon, especially if we see a break above current price levels.
Note that many traders are probably looking at...