Observations:
Daily 200 EMA strong resistance (blue line)
Bullish momentum due to BTC rally
Downward trend \ channel not broken
Key fib level reached - 0.5 fib retracement on 1 HRLY CHART below
Next target 0.382 fib level (203) on 1 HRLY CHART below
RSI has room for the upside, on the daily.
ALT dominance looks weak whereas BTC dominance looks like eminent upwards bounce\break off the EMA ribbon (100 EMA)
Thoughts: I expect 200 to be hit then a pullback and more sideways ranging movement.
Macro level
ALT Dominance Chart
BTC Dominance Chart
Daily 200 EMA strong resistance (blue line)
Bullish momentum due to BTC rally
Downward trend \ channel not broken
Key fib level reached - 0.5 fib retracement on 1 HRLY CHART below
Next target 0.382 fib level (203) on 1 HRLY CHART below
RSI has room for the upside, on the daily.
ALT dominance looks weak whereas BTC dominance looks like eminent upwards bounce\break off the EMA ribbon (100 EMA)
Thoughts: I expect 200 to be hit then a pullback and more sideways ranging movement.
Macro level
ALT Dominance Chart
BTC Dominance Chart
Note
Note
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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.
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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.