TON has hit the global support I mentioned in my previous analysis—it was simple and obvious.
From the current state, we’re seeing lower volatility, and this could be a solid entry point for a long to the nearest resistance zone (the red one).
What’s good here?
--
+ 1D bullish candle (but we need to wait for today’s close).
+ 0.5 Fib retracement from the previous support bounce—potentially a great zone to try longs with a small SL.
+ Low volatility
+ Huge 4h divergence
+ Double bottom pattern
+ Global support zone already 2nd bounce.
What’s bad here?
--
- Unstable BTC. BTC’s price seems high with high volatility, which could ruin the long setup if BTC drops.
- If BTC goes down, TON might revisit the support zone again (green one) and test for a third bottom.
- 4H in downtrend.
Boost this if you agree and want more updates.
From the current state, we’re seeing lower volatility, and this could be a solid entry point for a long to the nearest resistance zone (the red one).
What’s good here?
--
+ 1D bullish candle (but we need to wait for today’s close).
+ 0.5 Fib retracement from the previous support bounce—potentially a great zone to try longs with a small SL.
+ Low volatility
+ Huge 4h divergence
+ Double bottom pattern
+ Global support zone already 2nd bounce.
What’s bad here?
--
- Unstable BTC. BTC’s price seems high with high volatility, which could ruin the long setup if BTC drops.
- If BTC goes down, TON might revisit the support zone again (green one) and test for a third bottom.
- 4H in downtrend.
Boost this if you agree and want more updates.
Note
As I've said, revisiting global support (green zone) at the BTC breakdown. Filling with longs..
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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.