Long

TrendyTrades: DENT May 2nd Analysis

The yellow vertical lines on my charts indicate the last Friday of every month. Crypto seems to have a pattern with these dates in which it has a major leg up. Going with this idea, I have further analyzed the major key-levels in combination with various Supply and Demand zones to build my chart. Instead of hopping into this trade immediately, I would like to wait for a break down from the 1-week uptrend to the 2-Hour Key-Level and/or 1/4 Hour Demand Zone waiting below at around 0.0090600. Entry here would be idea in hopes of a bounce back up to the 1 Hour Supply at around 0.0124500. Since this supply has already been tested, I could except a break-through shortly after with price reaching the next Supply at around 0.0137388. Depending on how price reacts to this area which has been tested once before on April 17, we can see a break-upwards to the next Supply at around 0.0154000 with a 4-Hour key level just above that.

Trendy-Neck

Also on:

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.