LAYERUSDT - TIME FOR REVERSAL?

3月26日

Symbol - LAYERUSDT

CMP - 1.4200

LAYERUSDT is currently exhibiting a consolidation phase within an ongoing uptrend. The asset is outperforming the broader market; however, the initial reaction to the significant resistance at 1.4200 may result in a false breakout, followed by a retracement towards 1.275 or the 0.5 Fibonacci level.

Since the start of the session, LAYERUSDT has surpassed its daily Average True Range (ATR). However, upon encountering resistance, the coin may lack the momentum required for sustained upward movement. Liquidity in the vicinity of the 1.4200 level could serve to restrict price action, hindering the asset’s ability to break through this barrier on the first attempt.

At present, Bitcoin is testing its trend resistance, which could potentially lead to a reversal or continuation of its current downtrend, influencing altcoin prices accordingly.

Resistance levels: 1.4200, 1.4900
Support levels: 1.2932, 1.2747

The outcome hinges on the price's response at the 1.400 level. A sharp and distributive approach, with a high probability, is expected to result in a false breakout and a correction towards the aforementioned support levels. However, should LAYERUSDT show signs of slowing down and consolidating near 1.4000, there could be an attempt at a breakout, with further price movement dependent on the outcome of that attempt.

3月27日

交易开始

CMP 1.4840

Short position opened.

3月27日

交易结束：到达目标

CMP 1.2682

First target reached.

-15% fall from my short level.