We're currently pushing into resistance(previous support), so an immediate long wouldn't be a good idea BUT if we manage to break through we can play the retrace into that block (green scenario).
If we bounce down right now and make a higher low (yellow scenario), it would also increase the chances of breaking through that resistance.
Upon successful retrace we should be targeting those red highs I've outlined. But one step at a time, first we need to break this resistance.
If we break below the last low we'll have to see how the situation unfolds then.
If we bounce down right now and make a higher low (yellow scenario), it would also increase the chances of breaking through that resistance.
Upon successful retrace we should be targeting those red highs I've outlined. But one step at a time, first we need to break this resistance.
If we break below the last low we'll have to see how the situation unfolds then.
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Pooooomp it
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It's in the buy zone, let's hope it bounces
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Nice pump so far!
If it's done with this move I guess it should find support either on that green level or that block around 0.5 fib.
If it's done with this move I guess it should find support either on that green level or that block around 0.5 fib.
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I'd take some profit now since BTC looks like it may dump a little, which usually blows for alts.
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That was some nice action yesterday! We're back at the next support which should hold and is good for a new play.
