This Crypto is between Supply and Demand Zones.
There has been a rapid movement of price to the downside = DROP
Several tests of the DEMAND ZONE , with price bouncing of a double bottom formation.
This rally is not impulsive but more COMPRESSIVE in nature.
This would suggest price will bounce off the SWAP Zone and head south back to test the Demand Zone.
A short trade would be considered from the 50 ema or better if price is neared the Swap Zone.
Trade suggestion on chart.
There has been a rapid movement of price to the downside = DROP
Several tests of the DEMAND ZONE , with price bouncing of a double bottom formation.
This rally is not impulsive but more COMPRESSIVE in nature.
This would suggest price will bounce off the SWAP Zone and head south back to test the Demand Zone.
A short trade would be considered from the 50 ema or better if price is neared the Swap Zone.
Trade suggestion on chart.
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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.
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.