As the market continues to create new lows, something caught my eye.
3 areas of unwicked impulsive moves (FVG's) lying around 165.18 - 166.80, 167.65 - 169.69 and 170.32 - 172
With this, I identified two order blocks
.
I'm traditionally wired to prefer the latter because there's more confluence factors;
A liquidity pool 169.70 - 170.3 established by price...
On the 4H timeframe, we can see SOL is currently facing resistance after breaking past $206.
It makes an impulsive move downward crating a Fair Value Gap visible on the Daily timeframe between 204.7 and 195.39.
It briefly touched the 4H Liquidity Pool before making an attempt to run up again.
However, the move got terminated at 195.25 forming a Lower High which...
Current market structure suggest price is currently trading within a descending triangle with a morning star pattern indicating a very bullish move which could break above the wedge, take a little dive before continuing towards the upside. This unless of course btc has anything to say😁
The high of the week formed on Tuesday with price wicking through the 0.9140 level then the market went into and overall downtrend. as at 08:00 UTC today, it made a swing high before moving lower to a daily key level. Currently, price just wicked through my 70.5% fib level suggesting a reversal in the upward movement and a continuation downwards
