Cable looks like it's in seller's territory. This month it has been filling up the wick area from last month which could signify a change in momentum if it closes above it.
Right now, however, I am looking for sells.
I was previously bearish on this setup, but I have seen strong bullish momentum lately which changes by bias.
Trade is now entered after a doji formed that respected the trendline and my previous bullish confluence stack.
This is a zoomed in screenshot of USDJPY at H1, but my analysis always starts from the monthly.
On the monthly timeframe, we have seen bearish momentum the past 3 months, but this March we saw everything crawl as the market printed a bullish doji.
As we zoomed in to weekly, we saw a descending channel that confirms that past momentum of the last 3 months, but...
I have been previously bearish on bitcoin but now the market has a different tone.
We are now looking for progress on it's movement in the coming days as it has hit a resistance + 32.8% Fibonacci retracement + -61.8% projection.
This is from a purely technical standpoint so any players who are willing to take the risk should always follow strict risk management rules.