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On LTF, #ETH has swept both highs and lows and is now rejecting from the golden Fibonacci level (grey box). This level currently marks the key resistance.
Price is also trading below the 200 EMA across all lower timeframes, confirming the ongoing downtrend + acting as additional resistance.
With RSI in overbought territory and MacD showing clear bearish momentum, the probability of price targeting the lows is higher than a breakout above resistance.
As long as the Fibonacci level holds, there are a lot of short opportunities here. A strong break above the fib-level is the invalidation for this analysis...
Price wicked down to $65k, sweeping most of the short-term liquidity that was left below.
Buyers then stepped in quickly, buying up the move and pushing price around 4.5% higher from our key support level.
That was exactly the move we anticipated.
If you took the setup I shared in my last $BTC plan, you should now already be up 2.5R and can move your stop loss to break even, letting the trade run risk-free.
As mentioned in one of my previous posts, I expect continuation to the upside toward the $68k–$69k area before we see a reversal.
Once we see rejection at that level and get the confirmation I’m looking for, I’ll most likely share a short setup.
#Fetch.ai is showing strong bullish momentum on lower timeframes with clear Higher Highs and Higher Lows structure, indicating a continuation trend; currently, price is pulling back toward a key HL zone where we will wait for confirmation (bullish reaction/rejection) before entering a long position, as this pullback can provide a better risk-to-reward opportunity, but proper risk management is essential with stop loss below the HL and no chasing entries.
The current setup we have for BTC is one that I have shared before and it only managed to hit the first target and enter a larger structural area.
Currently BTC is transformed more but looks like we can be in a very large WXYXZ movement. BTC is on the Z wave and looks like it can be ready to start soon. Overall is very risky with the market conditions until the price takes a clear direction.
So, let’s see how BTC will develop again, considering that the market dynamics are very high and everything is changing rapidly.
$DOGE The price is moving within an ascending channel on the hourly timeframe. It has reached the lower boundary and is heading towards a breakout. A retest of this boundary is expected.
The Relative Strength Index (RSI) indicates a downward trend, and this trend is likely to continue due to the overbought condition.
There is a key resistance zone in green at 0.09700, which the price has bounced off several times, making it a strong support level.
A consolidation trend is observed below the 100-period moving average, which we are approaching. This trend supports a decline towards this level.
$CVX The price is moving within an ascending channel on the hourly timeframe. It has reached the lower boundary and is heading towards a breakout. A retest of this boundary is expected.
The Relative Strength Index (RSI) indicates a downward trend, and this trend is likely to continue due to the overbought condition.
There is a key resistance zone in green at 1.48, and the price has bounced off it several times, making it a strong support level.
A consolidation trend is observed below the 100-period moving average, which we are approaching. This trend supports a decline towards this level.