So when we look at the chart we can see that the price is moving in a zone that was a support zone in the past. We can also see that we got a first reversal in that zone.
What this could mean is that this support zone from the past will be acting as a resitance zone now. We do need to keep in mind that just only 1 reversal is not enough to make it a real zone chance so we need to keep looking here to see if we can get more reversals here.
For now it does look good and I will be keeping an eye out here to see if there is a chance that we could go long here. Maybe at the low side of the zone.
We could also go in and maybe look at a trade to do for a daytrade. We could do this if we see it trading in the zone. Then we can just zone trade it with a SL just above/below the zone.
We do also need to keep in mind that we are looking at crypto here so we can see some big volume moves happening that can just take us out.
For now I will be doing nothing and just see. If I daytade this I will keep you updated.
Feel free to tell me what you think of this and if you have any questions feel free to PM me.
What this could mean is that this support zone from the past will be acting as a resitance zone now. We do need to keep in mind that just only 1 reversal is not enough to make it a real zone chance so we need to keep looking here to see if we can get more reversals here.
For now it does look good and I will be keeping an eye out here to see if there is a chance that we could go long here. Maybe at the low side of the zone.
We could also go in and maybe look at a trade to do for a daytrade. We could do this if we see it trading in the zone. Then we can just zone trade it with a SL just above/below the zone.
We do also need to keep in mind that we are looking at crypto here so we can see some big volume moves happening that can just take us out.
For now I will be doing nothing and just see. If I daytade this I will keep you updated.
Feel free to tell me what you think of this and if you have any questions feel free to PM me.