Good afternoon all!
A bigger update is on the way this afternoon - I want to see how the markets open. But for now, I have updated trade-setups and the watchlist. There are some good opportunities in the watchlist and I am likely to take a few of them.
I am also going to do a recorded video later on how I trade i.e, layering orders and how this works. I will then Pin this video in trade-setups (on Discord) and this should help us to identify trades that are being taken and then.
Bitcoin
Limited action over the weekend in terms of price but we can see some changes. Volumes are down and have been declining, so will be interesting to see the reaction there today. Secondly, the RSI has now reset a tad and is no longer in over-bought conditions. This would make me more confident that we can see some more upside in the coming few days and hopefully fill the red resistance box where more of our Short orders are. I am still keeping them there, and am hoping to fill. #bitcoin
Ethereum
I am becoming more suspect of #ETH here to be honest. We're now outside of the local uptrend line and volume is dwindling away. The horizontal support of $1,745 is still holding which is positive and the daily RSI has been reset more, so there are also some upside potentials. I think if we were to get more upside (with BTC going higher and filling our red box), I could see ETH getting to $2,000. If it did get there, then I may also look to Short ETH.
Solana
Two potential paths for SOL. And looking interesting here. My feeling is that SOL would be too dangerous to Short here, as a breakout of the red downtrend line whilst the current horizontal support of $20.40 is holding, will mean SOL could get some serious upside, particularly with the RSI in a healthy position (in the low 40's). I will note the declining volume of the last week however, and will remain cautious because of this. If the market becomes more setup for upside, and SOL squeezes against the red main downtrend line, I may look for a Long.
Matic
Similar to #SOLANA in someways that we're declining volume but a bounce play could be on the cards. I like the $0.95 - $1.01 as a place to put small Long orders for a bounce play in #MATIC . I am currently liking this one and SOL for potential bounces over the next 1-4 days.
