$GRT has managed to defend the support at 78c, this level has proved itself many times in the past, and with this confirmation GRT is making a higher low, which is a probable sign of bullishness. Worth a shot
After yesterday's dump, many coins are at support right now. Bitcoin's behaviour will determine a lot of things, and will decide whether alts go up or down. However, AAVE is offering a risk/reward of 4 here, which means we can be wrong up to 80% of the time to make a profit on this setup.
$SRM is insisting on trading above the resistance it just broke. It went above it, then retested it and stayed briefly below, but then went back up above it. This is usually a sign that it wants to keep trading above.
- If we bounce from this daily area, it's a higher high by a long margin, and it's likely we're going to new highs. 1.618fib seems a good target
- This level was tested many times before and showed strong bounces every time
- Risk/reward is very appealing at R=4
- Stoploss below the 0.5 fib also seems reasonable, as often we see bounces from that level.
$LRC has reclaimed the daily level and held above, so I decided to take an entry. Looking at the 1H levels, this pullback as well as the bullish pin candlestick through the level seemed the perfect trigger for entering.
$ZIL has made a double bottom and back above daily support. ideal entry would have been 10168 satoshis, but it still offers a decent risk/reward trade if taken now. Alternatively it's also possible to wait for it to retrace a bit which would define a higher stoploss and offer a better R/R (but more risky) trade
Bitcoin closed the daily candle above weekly and daily support, also forming a bullish hammer-like candlestick. This alongside the bullish El Salvador news, and the other countries starting to fomo into btc makes this a low risk entry. Use stops if we break new lows though. Take profit as we go up
DENT keeps making lower lows and lower highs, which means we're still bearish despite everything being green today.
We remain bearish until we break above the previous lower high, but in the meantime we can get into a short term bullish trade up to the previous resistance. Levels on the chart
This is what needs to happen for bitcoin to reverse. It has to reclaim the 38k level, and would most likely do this with a reverse head and shoulders pattern.
I'm not saying this will happen, but this is what BTC needs to do if it wants to reverse. If you see this pattern forming, it would be time to long bitcoin again.