After retesting the weekly resistance that turned into support now, Bitcoin reclaimed the daily open and has no major resistances to the upside towards all time high and beyond. There is a small fight ongoing on lower timeframes. The close of the 4h candle above daily open is important for the immediate outlook. But as long as he day closes above the weekly...
NuCypher joined the current market sentiment yesterday and reached a new all time high. This strong push is likely not ending here. The 161% extension target is close to $1 which is a strong magnet in itself. Whoever started pumping this "cheap" Coinbase gem didn't do so to stop after one day. Weak hands are shaken out on the brief retracement, new stronger...
My thoughts for a good risk reward trade.
Either the daily open holds on a retest or ETH will test the low again.
take profit is 127% CD so I take the weekly high as a target
ETH found temporary support on a old orderblock from february. longing the retrace to the breaker in the current down move.
expecting return to origin after swing failure point
trade entry eq of breaker block target eq range
break in market structure occurred and range lows are in play. short the top of the breaker after tripple stop hunt on the consolidation.