Thanks again JBS for the suggestion. After a huge rally, we experienced a healthy retracement with a valid bounce on support which is in confluence with our fib. Although we have confirmed on the daily and the 4H context is bullish, we must wait for an entry point with a slight retracement.
A quick educational piece on taking profit for beginners. We are currently respecting the previous structure as support without a confirmation. At the moment, we are required to wait a bit longer prior to making the decision to enter the markets. more data is required
Quick EDU piece on retracements and extensions. in addition, we are talking about a possible set being validated for entry at the moment.
We have a solid set up being printed at the moment. currently we are waiting for confirmation prior to entering based on daily & 4 HR. Keep the areas mentioned in mind as potential resistance and move trades to break even as soon as possible.
POtential rejection to the .85 range down to the 61% Fib zone indicated on the chart. We will be looking for a confirmation on the pullback otherwise we will wait for the price to touch the 88% fib indicated on the chart. Another scenario is a breakout and confirmation of the 38% fib zone. Short-term scalpers, you have a short opportunity to the target entry as...
We are testing the 61% with the possibility to drop to the 88% fib zone. If we hold the support we could see a rally to the $33 zone before seeing potential resistance once more. However, if we can break beyond those resistance barriers we might have the momentum to go towards TP 1 & 2 which are potentially 400% - 900% ROI respectively.
I forgot i did this last week. hahaha. So here is another one!
We hit TP 2 already and looking for an optimal reentry.
We are testing the dollar zone as possible resistance before we fall to an anticipated entry based on confirmation around the 65 cent range. Targets are between 330% - 650%
We are looking at critical zones at the moment. we had a strong retracement from a weekly perspective and looking at treating major fib/structure levels as support. we are waiting for confirmation or a slight pullback towards the 2k mark once again. This will be my entry assuming we get 4H bullish context confirmation. GOOD LUCK GUYS!!!
At the junction of critical price action. we must hold the line and form a week,y perspective break above the 38 k and close. SCARY TIMES!!! not 100% guaranteed but the last 2 times we broke the trendline in the ascending channel we would get an intense crash...... or crypto winter. We are close and the market needs some heavy confidence before we can confirm this
We are just about ready for entry on a 4H confirmation and likely daily confirmation.
Quick update. We are wanting to close back above the significant structure on the daily & weekly for confirmation. However, everything else checks out. Regardless, there is a possibility it does not confirm dn in that instance the next daily support leg would be the 78% fib.
We are in profit at the moment. we are looking at reaching our TP soon assuming we continue to stair-step our way towards the upside.
We are doing a quick update on ETH. We used our target point as a support zone 2x already. we are waiting for a confirmation on the 4H and Daily prior to entering again assuming you desire to DCA or missed the initial opp. Be careful of the 5k mark as the round number is likely to be a solid selling zone
We are experiencing a potential set up being confirmed GOOD LCUK TRADRES!
Hey, revising this for the first time in a few months. Funny to see my initial analysis was a pretty spot of with the target points relative to the reversal zones. We are too far away to make a valid claim for a setup and execution but there is a potential idea in a place where we treat the 38% as support and bounce to 150,000 orrr..... as you see historically...
We are looking and waiting for confirmations prior to entering. We have two likely scenarios: treating 38% as support or the 78% Lesser probabilistic outcomes are the continuation and a crash Be safe traders, GOOD LUCK!