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Litecoin has reached the 3D demand zone and is currently consolidating inside the zone. Buy stops (have been swept. This is generating liquidity for Sell Orders.
The whole price action pattern looks like a distribution pattern. I would expect lower levels if:
1. We close the Day bellow the EQ
2. Break bellow the support (black line) at the base of the consolidation
Bitcoin is currently facing a strong resistance from the supply zone. Momentum seems to be exhausting, this is indicated by a weak Daily close. Price can break this zone after bouncing from one of the two supports bellow. If price starts ranging here, and bigger consolidation is formed, then we can conclude that Bitcoin has topped short term.
In continuation of our previous idea, trade goes as planned. ADA formed a lower high which indicates the continuation of the bearish market structure. Target of 1224 was reached exactly to the point. Waiting for price to come lower to our buy areas now.
The price of Bitcoin is increasing quickly in the last days. We touched the 3D supply zone and rejected it with a large wick. This zone is a good place to hedge your spot bitcoin exposure however at the current state shorting will not be in your favor. Price may need to pullback into support in order to break the supply and reach upper levels. I would target 4350...
As we had proposed in our previous update BTC looks strong to travel to higher levels. We finally broker above the range that had been forming the last days. Volume is looking really good on this pumps. Ideal entry for longs would be a retest of the range high. Target remains between 3800 and 3880.
Due to the fact that the Daily highs were taken I expect a minor...
Ethereum looking strong short term. Buy into the Demand and Sell into Supply. Those are the strongest points where you should look to take a trade. Price tends to wick those areas before reversing the opposite direction.
Price currently hovering bellow the EQ (Equilibrium -- 50% ) of the range. Liquidity on the bottom side has been cleared multiple times, a close above the EQ would be the strong buy signal now. As long as we stay bellow and reject the EQ there is not Technical reason to long Bitcoin.
As we have stated before, when price moves tightly into a range two things...
Bitcoin seems like that it's consolidating the last weeks. Volatility is decreasing as well as volume. Fundamentally we can all agree with the fact that Bitcoin will almost certainly reach higher levels again. But when will the right time to buy be?
Technically liquidity is gathered bellow the latest Weekly Swing Low (~3100 and bellow). The 3k support gor...
XMR moving nicely up and down respecting the range that has been formed.
During this consolidation phase it is wise to observe how price reacts around the EQ (50% of the range). A close bellow would indicate a sell-off while a good bounce off the EQ and a break above the range will be a strong buy signal for XMR.
On the chart you can see Monday's range marked. Price tends to respect this range often. Price may be deviating bellow the range, for a pump to happen we need however to tap the liquidity that the Equal Lows have created.
In order to enter a long it would be wise to wait for price to close above the range and long the retest of it. Vice Versa for short positions....
ADA structure is clearly bearish right now.
Lower highs and Lower Lows forming, expecting another Lower high and then a big dump down to our 3D block.
I am going to look for shorts on Bitmex when the time comes.
If price holds on the Daily chart above the EQ of the 3D support, another leg up may be experienced. Targets for longs are marked in the chart based on fib extentions, resistances and VPVR profile confluence. That's where we will close are longs fully, and start hedging with shorts.
Do not believe this is the next bull run until we form a higher high on HTF.
The only bullish play I can find so far that offers an adequate Risk to Reward is marked in the chart.
BTC pumped through most resistances and a big retracement won't indicate a strong follow up. Price will either hold the upper block and pump more, or this was a huge bull trap.
Either way, unless price action develops there is no reason to take a forced trade....