We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and demand zones, market structure, candlestick analysis etc. On crypto we are looking at the Daily and 1 Hour timeframes to take trades when they are ready.
On the weekly timeframe we can see that price rejected a key level of support at 0.68000 area and is moving towards the upside. We do have resistance in the current zone and overall are in a downtrend so we can either see rejection from this area or rejection from the 0.6900 area.
On the h4 timeframe we are going to continue to look for buying opportunities as we can see price has transitioned from a downtrend into an uptrend. Right now we are at a high point so we will wait for a pullback into the 0.68000 area before going long.
On the weekly timeframe we can see that price rejected a key level of support at 0.68000 area and is moving towards the upside. We do have resistance in the current zone and overall are in a downtrend so we can either see rejection from this area or rejection from the 0.6900 area.
On the h4 timeframe we are going to continue to look for buying opportunities as we can see price has transitioned from a downtrend into an uptrend. Right now we are at a high point so we will wait for a pullback into the 0.68000 area before going long.
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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.