Weekly resistance WR1 rejected the price on the last pump to 0.2 level. After that rejection price bounced but succumbed to the drop in BTC. Currently it is trading between weekly resistance WR1 and weekly support WS1. The price is likely to reach to weekly support WS1. This support is likely to provide the necessary momentum for the price to head up towards WR1.
The price has hit the weekly support again. a bounce shall be expected here and along should be favorable here. I did not have any order open for this dip to the support zone but I will long if the price dips again to this zone. The target for this long should be at least 0.095.
The price has hit the weekly resistance. A short shall be favorable here but since the price has a strong momentum, it is very risky. Still I am going with a limited risk here.
The price has hit the second 4h support area and is likely to break it. From the price action it seems that there is a high probability of price aiming towards the daily + weekly support area around 0.08100.
The price did hit the daily resistance as expected. Though there was repeated retest of the daily+weekly support before moving up and hitting the marked resistance. The price got pushed back by the resistance and currently ranging between the daily resistance and daily support. Where to go from here, I will publish in a new post.
The price seems to be heading to daily resistance zone 0.08950 - 0.09250. That resistance zone is definitely going to push price down at least on the first attempt by price to break it. We will see how strongly the price reacts to that resistance level and then reevaluate the probability of price action.
The price almost hit the daily support area. It will likely move upward now and pass through the above resistance in this go.
Next resistance for this move up would be the monthly resistance range 0.1330-0.13790.
Overall price direction is just depiction of a possible path how it might play out. But the idea of the direction is likely to be this. Anyway, the...
As mentioned in the last post, price moved up and touched the weekly resistance before moving down.
Now it seems price might be headed for the daily support region as marked in the chart. This daily support has already been tested after the breakout from that level.
