The recent trade decision was influenced by the price action of the last 8-hour candle, which closed above the Monday High. This level has served as a significant support/resistance flip in recent weeks. With the resistance now flipped, the focus is on targeting further upside potential in the market.
Bitcoin looks very strong. Yesterday's resistance was exactly the daily support we saw on the day of the ETF launch ($45.6k), so watch for a retest of this level to see if we confirm support and possible new range lows. BTC seems to be looking to push back to the highs above $48k. If we close above $47k today, we could really see $50k soon. If any significant pullback occurs, the $44.5k green zone is a must hold area.
Remember that BTC dominance is also breaking out, so the lows are subdued for now. A bit of patience and I think we will catch some nice trades soon.
Coins showing volatility this morning are RUNE, JASMY, FTM.
Manage Leverage and risk. Expose no more than 2-3% of wallet in the trade.
SSV reason for trade- On the 4hr chart I am looking at a retest of the wick, .618, EMA8 and Weekly Open. A number of big levels in this zone. #long #freesignalcrypto #bitcoin #SSV
ARB fully filled and very nice rejection of the Monday Low on the last 1 hour candle. The thing is, we may see the Monthly Open 1.7623 become support....holding my position for now.
Also, BTC closed the last 4 hour candle just above the trendline resistance and just above $43k, which may confirm as support here.
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ALLERT❗️❗️❗️(ETH) Certainly, it seems like a good Dollar-Cost Averaging (DCA) opportunity to bring your entry price back to average.
Given the uncertain conditions, it's crucial to decide on your position, especially if overnight monitoring isn't feasible in your time zone.
The trade has a solid rationale, but considering the current situation with BTC, cautious decision-making is essential. #ETH #TrendingTopic #traderisk #btc