On the Daily (right chart) we can see that price broke above the pennent that appears all the time in these cryptos and are very telling when broken. The wicks and support at 2400ish are quite telling as well. Over on the 4h chart, we can see it recent made a very divergent W that broke both the Bearish Trendline in the pennent, and broke the bearish market structure as well, breaking above the previous lower high on the 4h(broke above the middle of the W. I am taking a entry with my stop loss around 2100-2000. We also have some confirmation reversal candles against the 10 ema (red) on the 4h towards the upward position. The safest move would be to wait for those same reversals on top of the 10 ema on the daily, but I have a guttural feeling that it can move sooner based on the 4h.
Keeping it simple. :)
Tell me what you guys think!
Keeping it simple. :)
Tell me what you guys think!