Some of the arguments you can see on the chart that are saying LONG can happen.
1. Price hold
3. Market buys (this means that somebody just bought a dip with 1 button)
4. Small volatility (approx 2% up - down)
The most important thing here is that the price is accumulating and even when the BTC went for a correction the BNB still stays strong....
X-mas Flet is annoying and sellers limit pressure on BTC is getting stronger. BTC has no clear support atm. ALTS are already drowning - do not even try to buy the dips. As you can see the closest interest/support zone on BTC is between 15 600 - 16 000. Solid decision here is to wait or to grab some weak ALTS for short - if you know how to do it :)
Clear chart with less words. RSR is accumulating for a while. Stable zone to grab some from the support if you are not scared of BTC atm.
+ Small volatility
+ Small and clear SL
+ Clear break out entry
+ Good volumes in candles, almost impulse
+ BTC flet
- BTC break down
3 scenarios I see on BNB 1h. For (a) or any longs 1. We need to break out 253$. There is a huge resistance from 253$ to 264$.
2. If we wont break out this soon we can get back to the closest support of 240$ and accumulate there for a while between 240-250$ (b).
3. If accumulation fails then (c)
Actually I don't like:
- Volumes aer decreasing
- The last high not...
Seems positive for me and actually I been waiting for 17 000 / accumulation zone break out. There was a chance that we can break down at 15 000, but buyers started making market volumes. Opened my long at 16 800 (there was also a local break out)
+ 1D candle closed above 17 000
+ 17 000 accumulation zone break out
+ New local high
+ Possible Head and...
BTC 4H chart didn't break out the 17 000 zone even there was an accumulation. Closest 15 600 to hold, but when I'm looking to 1D chart I'm almost 99% sure this will break down soon -15 000....
Let's see the volumes at 15 600 if there will be much interest in this support zone.
So, from the last update accummulation has failed and (c) scenario happened. What's now?
Too many scenarios from this side (a,b,c,d) you can see on the chart. In two words the main resistance is located at 17 000 and we have a strong support at 15 600.
I'm already in longs. The green circles would be my additional entry points. Would look for this arguments:
As you may see BTC accumulated for a week between 16 200 - 17 000.
Now I see two scenarios here:
(a) Break out (17 000 - 17 200) and rapid pamp to 18 000 - 18 800 or even higher
(b) False break out and back in the accumulation zone and pamp later (maybe)
(c) Not discovered yet. :)
Last chance to hold support zone otherwise it will break down.
Today it's positive and I'm gonna buy some with a small SL. 258-270 ok price.
The situation depends on BTC - need to break out this 17 000 and I think this can happen soon as BTC in my point of view is accumulating between 16 200 - 17 000, which is stable.
If you are not sure what to do just wait...
1D chart made a fantastic break out. What's happening now?
TWT did a correction to the closest support and accumulating there, this can take several hours or even days (if a good support/accumulation happens).
What you can do? In my point of view:
1) Wait for a break out 2.10 and go market buy. It's not the safest way, but you can move with the market...
If you ask me is there any chance that we go lower, I'd say - yes. Almost 60/40 here. Buyers need to hold 15 600.
1. Volatility is getting lower
2. Small interest - every try to pamp btc fails
3. Big limits above - the price can't even break out local levels.
4. 1D candles super trashy.
12-15k could be the next targets, 10k squeeze, whatever. If you...
RSR has successfully failed previous support zone and went for the last support zone on 1W.
a) Would wait for about 10-14days, to see if it will hold the zone and accumulate
b) Correction continues to the hell with BTC.
IF (a) I would enter on local (4h) breakout, like the previously in MAY (10-22) from the 12 days of support.
What does a real trader in such situations like todays, when the markets volatility became extremely high? Many of them are growing balances with a scalping strategies but many of them waiting for a clear and stable moments or scenarios to join back.
So I got my own scenarios for this moment - abcd:
(a) Bullish market (if BTC won't go 10-15k). Any reason to be...