20 SMA - Blue 200 SMA - Pink Key Confluence Areas - Grey Lines How I see it: 1) Price will continue down to fill Imbalance first. 2) Then re-test previous confluence area @ 0.67000 3) Then continue down further. 4) Once price holds below 0.66200, 0.6500 is next.
20 SMA - Blue 200 SMA - Pink How I see it: 1) Firstly, have a look on your Daily TF. A Beautiful Inside Bar-Inverse Hammer. The first sign. Price can make a few of these bullish DAILY candlesticks which indicates a reversal is nearing. Also take in consideration if fear driven net liquidity outflows, profit taking and short selling continues no...
20 SMA - Blue 200 SMA - Pink What I see: Key Confluences: 1) 56118 2) 57117 Here is also a possibility for a "Fake Out" or "Dip and Reverse" back into channel. However, Bears are clearly in charge as new lower lows are fast and frequent!! Hopefully a bottom can be found between 53500 & 49000.
20 SMA - Blue 200 SMA - Pink Key Confluence - 57117 What I see: 1) If Falling Channel support holds, we might see as short term reversal. 2) If Falling Channel support fails, we might see further decline. Can NFP be the catalyst for short term direction, let's see ...
20 SMA - Blue 200 SMA - Pink Yes, I got this from Coin Telegraph: I was monitoring the selling pressure and the new falling trend; Coin Telegraph recently posted the news regarding the liquidity sweep. They claim it's done. (Be Aware!) The report gave me the necessary confirmation I was looking for in terms of structure. For now, let's just monitor the falling...
20 SMA - Blue 200 SMA - Pink What I See Today: 1) Staunch Bullish Tweezer Formed - 2) While 20 SMA is applying pressure, price could stay range bound. 3) If pressure persists demand could lose its footing. 3) 20 SMA has to "Catch" & "Hold" price to confirm bullish reversal. 4) A price "Range" breakout will offer a clear direction.
20 SMA - Blue 200 SMA - Pink What I see: If Price holds above 56000, demand support should hold. If price breaks below 56000, current market structure support could be tested @ 53500. For any reversal confirmation, price must 'BREAK" and "HOLD" above 20 SMA. I'm neutral, patiently ...