Looking at the 4hr chart the Next Level Crypto team can see two market structure emerging.
1) Bullish: Ascending Triangle
- Price action is in a 4hr uptrend and has created an ascending triangle which is highlighted by the white lines
- If the bulls can reclaim the red resistance zone at 10.4k, expect a push towers the top of the ascending triangle at 10.9k and ultimately to test the lower high at 11.8k
2) Bearish: Inverse head and shoulders
- After the stiff rejection by the bears at 11k, price action has created and inverse head and shoulders within the accessing triangle.
- This morning price broke the neckline at 10.3k and is currently retesting the red resistance zone
- If price action breaks down, look to enter short on the retest of the slopped support with the goal of testing the lows a 8.8-9k and ultimately 8.2k
1) Bullish: Ascending Triangle
- Price action is in a 4hr uptrend and has created an ascending triangle which is highlighted by the white lines
- If the bulls can reclaim the red resistance zone at 10.4k, expect a push towers the top of the ascending triangle at 10.9k and ultimately to test the lower high at 11.8k
2) Bearish: Inverse head and shoulders
- After the stiff rejection by the bears at 11k, price action has created and inverse head and shoulders within the accessing triangle.
- This morning price broke the neckline at 10.3k and is currently retesting the red resistance zone
- If price action breaks down, look to enter short on the retest of the slopped support with the goal of testing the lows a 8.8-9k and ultimately 8.2k
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.