We seem to have held just above the downtrend line anchored to 20k and 9.9k, we are also currently in a high volume area which tends to see a good amount of consolidation
the first green box will be the target for a pull back while the upper box is the target for a potential reversal
Shoutout to @g_squared_iv who is a fallen knife catcher, this is how we honor...
We are getting a bit extended, with divergences showing on higher timeframes, there is 60 % chance of reaching higher box. So this should be pretty nice risk to reward trade, keep an eye on it and have in mind there might not be liquidity when needed, so reserve some margin.
Here are some areas that I would be interested in to try a ltc long. Divergences starting to appear on 4 hr 2.13% , possibly we could have one on daily also, so seems like an interesting area to give it a try.
We are coming close to logner term trend line, it also aligns well with horizontal resistance areas.
There are divergences on 4hr and less, we are far from 200 EMA there should be some bounce here, if not, then am thinking flip position and wait for the lower box.
Live charting on our twitch channel:
Look at the 2 day chart to see this better, but we've been in a tightening range for the last 6 days, think of it like a spring that's being wound up and which ever direction price breaks through first we will see a strong move in that direction. I THINK we'll break up but both could happen, breaking up is more likely just because of the direction of the trend
Looks like we hit resistance for $LINK, thinking now it would be good time to retrace a bit, as divergences are appearing across 4hr and lower timeframes. We might not go as deep as my green boxes are, but those are interesting areas for me.
Looks like we are getting close to bottom area, there is divergence on 4 hr so might be worth to give this area a bit of a try.
Am not completely confident that this is the bottom looking at higher time-frames, so I would be leaving most of position to either add on in lower box, or to add on pullback if we bounce.
XRP does not look that awesome. But this area looks so appealing to give it a try. I would expect that when $BTC chills a bit, xrp will make a move.
Am thinking of a small position here, and wouldn't risk to lose more than 1% of account on this trade.
If this doesn't work bigger drop wouldn't surprise me so manage risk accordingly.