Red box/TP hit, what's next?
The red box I had shared previously got tapped last night and although I wasn't able to take advantage of it due to time zone differences, price reacted very well to it and immediately proceeded to sell off.
There is a fresh H4 supply of "underwater" sellers at the 47.5k-48.5k (the last red candle before this move up) in addition to the dark green support below it.
Although the ideal reload zone (higher up green box) is below that, I expect the reload zone to get front ran, especially so as the Coinbase buying seems to pick up around the 48k area. That is the area in which I'd also look to be a buyer. If price falls through that, I'd be looking for the larger green box at the bottom.
There is a fresh H4 supply of "underwater" sellers at the 47.5k-48.5k (the last red candle before this move up) in addition to the dark green support below it.
Although the ideal reload zone (higher up green box) is below that, I expect the reload zone to get front ran, especially so as the Coinbase buying seems to pick up around the 48k area. That is the area in which I'd also look to be a buyer. If price falls through that, I'd be looking for the larger green box at the bottom.
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.