As was expected in previous post, looking for PA in zone selected. Now:
- Strong support on SMA500
- Uptrend support line (red) broken
- SMA130 above the current price
- If SMA500 is broken down ( 1hr candle close below) = next target is aprox 153 usd
Chart speaks by it self.
Range based on some simple rules, max the range considering that touch in one side implies touch in the other side of the range then.
Looking for see price action in the square in LTF to confirm the breakout of the sideways structure or short in the range with a good RR
ETH is closing below Kijun Sen, that is potential led the price into the cloud with target in 191.95.
Confluence: SMA500/130/cloud are there waiting, so is good to review PA in LTF in that zone and decide strategy based on HTF downtrend and LTF uptrend BIAS.
Unconfirmed triangle after uptrend channel resistant breakout. BTC is moving really fast to 11,500 - 11,600 USD where a weekly supply is waiting for it, this will probably reject BTC price to send it back to the 8K range (or less).
In the other hand, Total Market Cap excluding $BTC is close to a breakout of a major resistance, that could indicate that Alt Season...
Some dots into the analysis:
- the price is moving in the highest part of the uptrend (with higher highs and higher lows) currently
- So far, SMA400 is acting as resistant
- I'm expecting that between 6050 and 6200 USD we have a lot of buy orders waiting, that mean short sell orders can be triggered in that zone eventually
- Due to that the price would go down...