We may see price run for a new high before we get a clean pullback down to $35 that is okay. For my strategy we need an algorithmic pattern to line up with a liquidity pattern.
Watch $44 for a short-term sell, which I may just pass on if all other cryptos are rising, it wouldn't make sense from a probability perspective to try and sell against the major trend.
Why is $35 a key level?
Reasoning: We have high amounts of smart money volume there that I believe is bullish, we also have a liquidity void lined up at that price as well.
If April's current high remains untouched and we get a harmonic/ABCD of some sort at $35 I will be looking for a buy reaction.
The idea is that there is still liquidity sitting right above April's high and we want to make a run for it with the banks.
Target's are 38.2%,61.8%, and 100% of a trend based fib projection.
Let's Elevate,
Gio
Watch $44 for a short-term sell, which I may just pass on if all other cryptos are rising, it wouldn't make sense from a probability perspective to try and sell against the major trend.
Why is $35 a key level?
Reasoning: We have high amounts of smart money volume there that I believe is bullish, we also have a liquidity void lined up at that price as well.
If April's current high remains untouched and we get a harmonic/ABCD of some sort at $35 I will be looking for a buy reaction.
The idea is that there is still liquidity sitting right above April's high and we want to make a run for it with the banks.
Target's are 38.2%,61.8%, and 100% of a trend based fib projection.
Let's Elevate,
Gio
Note
Great reaction, an H4 Close below and it should be good to go for $35 region
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Each week, I send an email breakdown of the best forex setups, watch zones, and market trends so you can trade with confidence.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
Your next setup is waiting—Subscribe for access to my weekly outlooks.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.